Commonwealth Consolidated Acts

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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 178

Termination of appointment

  (1)   The Governor - General may terminate a member's appointment because of misbehaviour, or the physical or mental incapacity, of the member or if the member:

  (a)   becomes bankrupt, applies to take the benefit of a law for the relief of bankrupt or insolvent debtors, compounds with his or her creditors or assigns remuneration or property for their benefit; or

  (b)   is a full - time member and engages without the Minister's consent in paid employment outside the duties of the member's office; or

  (c)   is a full - time member and is absent from duty, except on leave granted in accordance with section   180, for 14   consecutive days, or for 28 days in any period of 12   months; or

  (e)   without reasonable excuse, contravenes section   185.

  (2)   The Governor - General may, with the consent of a full - time member who is an eligible employee, retire the member from office on the ground of incapacity.



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