Crown Entities Act 2004 Version as at 1 July 2024 Delegation 73 74 75 76 Ability to delegate Powers of delegate Effect of delegation on entity or board Revocations of delegations 40 41 41 41 Miscellaneous provisions relating to board 77 78 Vacancies in membership of board Appointment of chairperson, etc, and board procedure 42 42 Subpart 2—Crown entity companies Formation and shareholding of Crown entity companies 79 80 81 82 83 84 85 Formation and acquisition of shares in Crown entity companies Restrictions relating to shares in Crown entity companies Crown entity company must have constitution stating it is Crown entity Constitution must be presented to House of Representatives Shares to be held by person holding office as Minister Appointment of representative of shareholding Minister Interface with Companies Act 1993 and other Acts 42 42 43 43 43 43 44 Role and accountability of members 86 87 Board’s role Accountability of members to shareholding Ministers 44 44 Shareholding Ministers’ role 88 Shareholding Ministers’ role 44 Monitor’s role 88A Monitor’s role 45 Appointment and removal of members 89 90 91 Criteria for appointments by shareholding Minister Members must disclose interests before appointment No compensation for removal from office 46 46 46 Collective duties of board 92 93 94 Duty to act consistently with objectives, functions, statement of intent, and statement of performance expectations Subsidiaries Accountability for collective board duties 47 47 47 Individual duty of members 95 4 Duty to comply with this Act and entity’s Act 48