Schedule 6 to the Principal Act is amended as follows:

(a) by omitting from clause 5(1) "referred to in section 122 (1) " ;

(b) by omitting from clause 5(2) "referred to in section 122 (1) ," and substituting ", other than the chairperson," ;

(c) by omitting from clause 5(3) "referred to in section 122 (1) " ;

(d) by omitting clause 6 and substituting the following clause:

6.    Filling of vacancies

On the occurrence of a vacancy in the office of a member of the Nominal Insurer –

(a) referred to in section 122(1)(a) , the Minister may appoint a person to the vacant office for the residue of his or her predecessor's term of office and the person appointed is to be a person selected by the Minister after consultation with the licensed insurers and self-insurers; and

(b) referred to in section 122(1)(b) , the Minister, after consultation with the Treasurer, may appoint a person to the vacant office for the residue of his or her predecessor's term of office; and

(c) referred to in section 122(1)(c) , the Minister may appoint a person to the vacant office for the residue of his or her predecessor's term of office.

(e) by omitting from clause 10 "3" and substituting "4" ;

(f) by omitting from clause 11(1) "Three" and substituting "Four" .