Chapter 8: Regulatory Agencies and Administration of Act
Part B: Companies Tribunal
s194: Appointment of Companies Tribunal
- (1) The Minister must:
- (a) appoint the chairperson and other members of the Companies Tribunal no later than the date on which this Act comes into operation; and
- (b) appoint a person to fill any vacancy on the Tribunal.
- (2) A person may not be:
- (a) appointed as chairperson or member of the Tribunal unless the person satisfies the requirements of section 205; or
- (b) reappointed to a second term as chairperson of the Tribunal.
- (3) The Tribunal must comprise:
- (a) persons with suitable qualifications and experience in economics, law, commerce, industry or public affairs; and
- (b) sufficient persons with legal training and experience to satisfy the requirements of section 195(3)(a).
- (4) The Minister must designate a member of the Tribunal as deputy chairperson of the Tribunal.
- (5) The deputy chairperson performs the functions of chairperson whenever:
- (a) the office of chairperson is vacant; or
- (b) the chairperson is for any other reason temporarily unable to perform those functions.
- (6) Sections 206 and 207 apply to the chairperson and other members of the Tribunal.
- (7) The chairperson and each other member of the Tribunal serves for a term of five years and may, subject to subsection (2)(b), be reappointed for a second term.
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