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None . . Page.. 952 ..

‘(3) The selection committee shall consist of -

(a) the chairperson of the board of the Company, or, if that position is vacant, a person nominated by the voting shareholders;

(b) 2 persons nominated by the relevant body; and

(c) 2 other persons nominated by the voting shareholders.

‘(4) Subject to this section, the procedures for -

(a) nominating and selecting a director referred to in subsection (1); and

(b) constituting the selection committee for the appointment of that director;

shall be as determined by the voting shareholders.

‘(5) The other directors shall be persons who, in the opinion of the voting shareholders, have the expertise or skills necessary to assist the corporation to achieve its principal objectives.

‘(6) In this section -

“relevant body” means -

(a) in relation to a director referred to in paragraph (1)(a) - the ACT Trades and Labour Council Incorporated;

(b) in relation to a director referred to in paragraph (1)(b) - the Conservation Council of the South East Region and Canberra Incorporated; and

(c) in relation to a director referred to in paragraph (1)(c) - the Australian Capital Territory Council of Social Service Incorporated.’.”.

Mr Speaker, the board of directors of any corporation has the prime responsibility for the operation of the business. One of the main reasons why corporatisation is proposed as a good idea is that the board is held legally responsible for its decisions. The board, not the Government, will be responsible for irresponsible actions taken by the corporation as a result of their decisions.

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