The Higher Education Students Loans Board Act

The Chairman of the Board holds office for four years from appointment and may be re-appointed.

Board members other than the Chairman normally hold office for three years, may be re-appointed, may resign by written notice to the Minister, and members who hold office by virtue of another office stop being members when they lose that office.

Board members must elect one of their number as Vice-Chairman.

This section sets how the Board must meet, who convenes meetings, notice periods, who presides, and when non-members may attend without voting rights.

Board meeting minutes must be properly recorded, kept, read, confirmed or amended and confirmed at the next meeting, and signed by the presiding person and the Secretary.

A Board meeting has quorum only if two thirds of the members then in office are present.

The Board decides matters by simple majority of members present and voting; the Chair has a casting vote if votes are tied.

The Board may act even if there is a vacancy in its membership, so long as the quorum rule in paragraph 7 is observed.

If a member misses three consecutive Board meetings without sufficient cause, the Board must inform the appointing authority, and that authority may revoke the member’s appointment and replace them.

The Board may decide the shape, size, and form of its official seal, and the seal must not be affixed to Board documents unless done in the presence of specified Board officers or employees.

Board documents must be sealed with the Board’s official seal and signed by the listed officers or an authorised Board member or employee.

Board members are entitled to receive remuneration, allowances, and other benefits set by the Minister.

A Board member who has a direct or indirect interest in a contract, proposed contract, or matter being considered by the Board must declare the nature of that interest to the other members.

The Board may regulate its meeting procedure and how it conducts its business, subject to this Schedule.