Commonwealth Numbered Acts

NATIONAL COMPANIES AND SECURITIES COMMISSION ACT 1979 No. 173, 1979 - SECT 18

18. (1) The Governor-General may terminate the appointment of a member by
reason of misbehaviour or physical or mental incapacity.

(2) If-

   (a)  a member becomes bankrupt, applies to take the benefit of any law for
        the relief of bankrupt or insolvent debtors, compounds with his
        creditors or makes an assignment of his remuneration or of part of his
        property for their benefit;

   (b)  a full-time member engages in paid employment outside the duties of
        his office without the consent of the Ministerial Council;

   (c)  a full-time member is absent from duty, except on leave granted by the
        Ministerial Council in accordance with sub-section 15 (1), for 14
        consecutive days, or for 28 days in any period of 12 months;

   (d)  a part-time member is absent, except on leave granted by the
        Ministerial Council in accordance with sub-section 15 (2), from 3
        consecutive meetings of the Commission; or

   (e)  a member fails to comply with his obligations under section 19, 47,
        48, or 49, the Governor-General may terminate the appointment of that
        member.

(3) The powers of the Governor-General under this section shall be exercised
only in accordance with advice that is consistent with resolutions of the
Ministerial Council.