Document ID: chunk:federal_register_of_legislation:C2022C00261:section:52:p3
Version: federal_register_of_legislation:C2022C00261
Segment Type: section
Provision Reference: s 52 (pt 3/48)
Character Range: 38093–40836

of, any investment made out of the Fund, or to enhance or protect, the return on any such investment.

(3) In exercising its functions and powers CSC shall have regard to:
     (a) the interests of members and the Commonwealth;
     (b) any statement of the policy of the Commonwealth Government on any matter that is relevant to the performance of the functions, duties and powers of CSC furnished to CSC by the Minister with a request that CSC consider that policy;
but notwithstanding anything contained in any statement of Commonwealth Government policy or the Deed, CSC shall, in exercising its functions and powers, comply with the requirements of the Occupational Superannuation Standards Act 1987 and Regulations applicable to the Fund and the Superannuation Scheme.

Appointment of Trustees

4. (1) Four of the 5 Trustees constituting CSC shall be appointed by the Minister having regard to the following:
     (a) 2 of the Trustees shall be persons with experience in, and knowledge of, the formulation of government policy and public administration; and
     (b) 2 of the Trustees shall be members of the Defence Force nominated by the Chief of the Defence Force, one being an officer and the other a member, other than an officer.

(2) The 5th Trustee, who will also be the Chairperson of CSC, shall be appointed by the Minister after consultation with the Minister for Finance in relation to the appointment.

(3) The Chairperson and the Trustees nominated by the Chief of the Defence Force shall be appointed for such period, not exceeding 3 years, as the Minister specifies in the instrument of appointment. The Trustees referred to in subclause 4 (1) (a) shall hold office at the Minister's pleasure.

(4) A Trustee shall be eligible for re‑appointment.

(5) A Trustee shall hold office on such terms and conditions as are determined by the Minister.

(6) The performance of the functions, or the exercise of the powers, of CSC shall not be affected by reason of there being a vacancy in the membership of CSC.

(7) The Trustees shall be paid such remuneration and allowances as are determined by the Remuneration Tribunal but, if no determination of that remuneration or allowances by the Tribunal is in operation, they shall be paid such remuneration and allowances as are determined by the Minister.

(8) The Minister may grant leave of absence to a Trustee on such terms and conditions as to remuneration or otherwise as the Minister determines.

(9) A Trustee may resign office by writing signed by the Trustee and delivered to the Minister.

Termination of Appointment

5. (1) The Minister may terminate the appointment of a Trustee for:
     (a) misbehaviour or physical or mental incapacity; or
     (b) inefficiency or