Document ID: chunk:federal_register_of_legislation:C2023C00366:section:18
Version: federal_register_of_legislation:C2023C00366
Segment Type: section
Provision Reference: s 18
Character Range: 21449–22583

18  Term of appointment
 (1) A non‑executive Director holds office, subject to this Act, for such period (not longer than 5 years) as is specified in the instrument of appointment, but is eligible for re‑appointment.
 (2) Where a person is re‑appointed as a non‑executive Director, the re‑appointment must be for a period not exceeding 5 years.
 (3) The sum of the periods for which a person holds either or both of the following offices must not exceed 10 years:
 (a) an office referred to in paragraph 8(aa);
 (b) an office referred to in paragraph 8(b).
Example 1: Assume a person holds office as Chairperson for an initial period of 5 years and then holds office as Chairperson for a further period of 5 years.
 The person cannot hold office as Chairperson again and cannot hold office as a Director referred to in paragraph 8(b).
Example 2: Assume a person holds office as a Director referred to in paragraph 8(b) for a period of 5 years and then holds office as Chairperson for a period of 3 years.
The person may now hold office as Chairperson, or as a Director referred to in paragraph 8(b), for a maximum period of 2 years.