Paragraph 12 I1
The Board is to employ a person as its Chief Executive.
The Chief Executive’s main function is to be responsible for securing that the functions of the Board are exercised efficiently and effectively.
The first appointment of a Chief Executive—
is to be made by the Secretary of State, and
is to be on such terms and conditions as to remuneration and other matters as are determined by the Secretary of State.
Subsequent appointments of a Chief Executive are to be made by the Board with the approval of the Secretary of State.
Appointments under sub-paragraph (4) are to be—
on such terms and conditions as to remuneration as may be determined by the Board with the approval of the Secretary of State, and
on such other terms and conditions as may be determined by the Secretary of State.
By virtue of subsection (2) of section 112 (non-executive functions), the function conferred on the Board by sub-paragraph (5)(a) is exercisable on its behalf by the committee established under that section.
Annotations
Commencement
- I1
Sch. 5 para. 12 in force at 17.12.2004 by S.I. 2004/3350, art. 2, Sch.
Notes on Schedule 5
Modifications
- C1
Sch. 5 modified (N.I.) (6.4.2005) by The Pension Protection Fund (Review and Reconsideration of Reviewable Matters) Regulations (Northern Ireland) 2005 (S.R. 2005/138), regs. 1(1), 26