Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 17 - INTERPRETING THIS ACT  

PART 17-2 - INTERPRETATION OF OTHER EXPRESSIONS  

Division 694 - Interpretation of other expressions  

SECTION 694-85   MEANING OF CHIEF EXECUTIVE OFFICER FUNCTION  
Persons with overall management responsibility for corporation

694-85(1)    
A person performs a chief executive officer function (CEO function) in relation to a Aboriginal and Torres Strait Islander corporation if the person is the person who is primarily and directly responsible to the directors for the general and overall management of the corporation.

694-85(2)    
If there is no one person who performs CEO functions under subsection (1) , a person performs a CEO function in relation to the corporation if the person is one of a number of people who together are primarily and directly responsible to the directors for the general and overall management of the corporation.

Persons responsible for financial matters

694-85(3)    
A person performs a CEO function in relation to the corporation if that person is the person who is:

(a)    primarily responsible for financial matters in relation to the corporation; and

(b)    directly responsible for those matters to either:

(i) the directors; or

(ii) the person or persons who perform the CEO function in relation to the corporation.

694-85(4)    
If there is no one person who performs a CEO function under subsection (3) , a person performs a CEO function in relation to the corporation if the person is one of a number of people who together are:

(a)    primarily responsible for financial matters in relation to the corporation; and

(b)    directly responsible for those matters to either:

(i) the directors; or

(ii) the person or persons who perform the CEO function in relation to the corporation.