The TCV Act provides for a Board of Directors consisting of the Chief Executive Officer (Managing Director) and between five and seven other directors appointed by the Governor in Council on the recommendation of the Treasurer. The Board is responsible for the management of TCV’s affairs.

The TCV Act requires a Director who has a pecuniary interest in a matter being considered by the Board to declare the nature of the interest. The Director must not be present during any deliberations with respect to the matter (unless the Board resolves otherwise) and is not entitled to vote on the declared matter.

Directors are also bound by Victorian Public Entity Directors’ Code of Conduct 2006 issued by the Victorian Public Sector Standards Commissioner.