Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:14_25b
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 14 cl 25B
Character Range: 175722–176881

25B  Appointment of members

 (1) The member who is the representative of the Bank referred to in paragraph 25A(b) is to be appointed by the Governor. The person appointed must be a member of the Reserve Bank Board or an officer of the Reserve Bank Service.

 (2) The member who is the representative of APRA referred to in paragraph 25A(c) is to be appointed by APRA's Chief Executive Officer. The person appointed must be an APRA Board member or an APRA staff member.

Note: The CEO may appoint himself or herself.

 (3) Each other member referred to in paragraph 25A(d) is to be appointed by the Governor‑General for a period specified in the instrument of appointment. The period specified must not exceed 5 years.

 (4) All appointments under this section are to be in writing.

 (5) All appointments under this section are to be on a part‑time basis.

Note 1: Members appointed under subsection (1) or (2) are not appointed for a specified period, however, their appointments can be terminated at any time (see section 25K).

Note 2: The Governor is an ex officio member of the Payments System Board (and so is not separately appointed to the Board).