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Schedule 2—Governance arrangements for the Board of CSC

Schedule 2 Governance arrangements for the Board of CSC

   

Governance of Australian Government Superannuation Schemes Act 2011

1  Paragraph 11(1)(b)

Omit “10”, substitute “8”.

2  Subsection 11(2)

Omit “10”, substitute “8”.

3  Paragraph 11(2)(a)

Omit “3”, substitute “2”.

4  Subsection 11(2) (note)

Omit “5”, substitute “4”.

5  Subsection 21(1)

Omit “9”, substitute “6”.

6  Subsection 21(2)

Repeal the subsection.

7  Subsection 21(3)

Omit “subsections (1) and (2)”, substitute “subsection (1)”.

8  Section 23

Repeal the section, substitute:

23   Voting at meetings

                   At a meeting of the Board, a question is decided by the agreement of 6 directors.

9  Paragraph 24(1)(a)

Omit “9”, substitute “6”.

10  Existing appointments

The amendments made by this Schedule to section 11 of the Governance of Australian Government Superannuation Schemes Act 2011 do not affect the appointment of a director that took effect before the commencement of this item.

11  Provisions relating to quorum, voting etc.

Sections 21, 23 and 24 of the Governance of Australian Government Superannuation Schemes Act 2011 as amended by this Schedule:

                     (a)  apply, at any time after the commencement of this item at which the number of directors is 11, as if references in subsection 21(1), section 23 and paragraph 24(1)(a) of that Act as so amended to 6 directors were references to 8 directors; and

                     (b)  apply, at any time after that commencement at which the number of directors is 10, as if references in subsection 21(1), section 23 and paragraph 24(1)(a) of that Act as so amended to 6 directors were references to 7 directors.

Note:       Although section 11 of that Act, as amended by this Schedule, reduces the number of directors to 9, it is possible for the number of directors to be 10 or 11 after the commencement of this Schedule because of item 10.