14   Chief executive officer

(1)  The chief executive officer of RailCorp is to be appointed by the board of RailCorp after consultation with the voting shareholders and the portfolio Minister.

(2)  The chief executive officer is to hold office for the period (not exceeding 5 years) that is specified in the chief executive officer’s instrument of appointment.

(3)  The board may remove a person from office as chief executive officer, at any time, for any or no reason and without notice, but only after consultation with the voting shareholders and the portfolio Minister.

(4)  The chief executive officer is entitled to be paid such remuneration (including travelling and subsistence allowances) as the board may determine after consultation with the voting shareholders.

(5)  The board may, after consultation with the voting shareholders, fix the conditions of employment of the chief executive officer in so far as they are not fixed by or under any other Act or law.

(6)  The contract of employment of the chief executive officer must include performance criteria for the purpose of reviews of the chief executive officer’s performance.

(7)  The board must require the chief executive officer to enter into a performance agreement and must review the chief executive officer’s performance at least annually.

(8)  The Public Sector Employment and Management Act 2002 (Chapter 5 included) does not apply to the chief executive officer.

(9)  Section 20K (2) and (4) of, and Schedule 9 to, the State Owned Corporations Act 1989 do not apply to or in respect of the chief executive officer.

(10)  The provisions of this section are in addition to and (except to the extent to which this section provides) do not derogate from the provisions of the State Owned Corporations Act 1989.