(1) For section 11(1) of the Federation University Australia Act 2010 substitute —
"(1) The Council consists of the fixed number of members being—
(a) the official members; and
(b) a fixed number of at least 4 government appointed members; and
(c) a minimum of one or any other greater fixed number of Council appointed members; and
(d) the elected members.".
(2) After section 11(4) of the Federation University Australia Act 2010 insert —
"(4A) The elected members are—
(a) one or more persons elected by and from the staff of the University in accordance with the university statutes and any university regulations; and
(b) one or more persons elected by and from the students of the University in accordance with the university statutes and any university regulations.".
(3) After section 11(5) of the Federation University Australia Act 2010 insert —
"(5A) Of the members referred to in subsection (1)(b) and (c)—
(a) at least 2 must be persons with financial expertise with relevant qualifications or experience in financial management; and
(b) one must be a person with commercial expertise at a senior level.".
(4) In the note at the foot of section 11 of the Federation University Australia Act 2010 , for "76" substitute "11A".