Document ID: chunk:federal_register_of_legislation:C2004A03716:body:0:p7
Version: federal_register_of_legislation:C2004A03716
Segment Type: other
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Character Range: 16622–19477

Relations Commission; and
          (b) decisions given from time to time by the Australian Industrial Relations Commission in National Wage Cases";
     (b) by omitting subsection (2) and substituting the following subsection:
    "(2) An additional function of the Tribunal is to provide advice to public statutory corporations, government business enterprises and other employing bodies in relation to terms and conditions (including remuneration and allowances) on which principal executive offices are to be held.".

Annual report
25. Section 12aa of the Principal Act is amended by inserting after subsection (1) the following subsection:
"(1a) The Tribunal shall include in the report an assessment of the general operation of subsection 5 (2).".

PART VI—AMENDMENTS OF THE RESERVE BANK ACT 1959

Principal Act
26. In this Part, "Principal Act" means the Reserve Bank Act 19595.

Meetings of Board
27. Section 21 of the Principal Act is amended:
     (a) by omitting from subsection (2) "The Chairperson shall" and substituting "Subject to section 21a, the Chairperson shall";
     (b) by omitting from subsection (3) ", of whom the Chairperson or the Deputy Chairperson shall be one,".
28. After section 21 of the Principal Act the following section is inserted:

Exclusion of Governor and Deputy Governor from certain deliberations
"21a. (1) The Governor and the Deputy Governor shall not be present during any deliberation of the Board, or take part in any decision of the Board, in relation to the determination or application of any terms or conditions on which the Governor or the Deputy Governor holds office.
"(2) Where the Governor and the Deputy Governor are required by subsection (1) not to be present during deliberations of the Board, the members present shall appoint one of their number to preside.".
29. Section 24a of the Principal Act is repealed and the following section is substituted:

Terms and conditions of appointment not provided for by Act
"24a. The Governor and the Deputy Governor hold office on such terms and conditions (including terms and conditions relating to remuneration and allowances) in relation to matters not provided for by this Act as are determined by the Board.".

Repeal of section 72
30. Section 72 of the Principal Act is repealed.
31. After section 81 of the Principal Act the following section is inserted:

Information relating to remuneration of Governor and Deputy Governor
"81a. (1) The financial statements of the Bank shall comply with the requirements prescribed under the Companies Act 1981 for the accounts of a listed corporation so far as those requirements relate to the income of executive officers of a listed corporation.
"(2) For the purposes of subsection (1):
     (a) the Bank shall be taken to be a listed corporation; and
     (b) the Governor and Deputy Governor shall be