(1) The Governor in Council may suspend or remove a director from office on the recommendation of the Minister if the director—
(a) without the approval of the Board, fails to attend 3 consecutive meetings of the Board; or
(b) becomes an insolvent under administration; or
(c) is convicted or found guilty of—
(i) an indictable offence; or
(ii) an offence that, if committed in Victoria, would be an indictable offence; or
(iii) an offence relating to the performance of duties as a director; or
(d) engages in improper conduct in performing duties as a director; or
(e) is negligent in performing duties as a director; or
(f) fails to disclose a conflict of interest in accordance with section 21 ; or
(g) is absent or unable to perform duties as a director for a period of more than 3 months.
(2) The suspension of a director under subsection (1) may be for any period less than or equal to the remainder of the director's term of office.