Regulation 5 Terms of officeI1
Northern Ireland
Subject to the following provisions of this paragraph, a person shall hold and vacate office as a member or as chairman of the Foundation in accordance with the terms of his appointment.
The chairman and other members of the Board shall be appointed for a term of 5 years, and a person appointed to fill a casual vacancy shall hold office for the remainder of the term of the person in whose place he is appointed.
A person may at any time resign as a member or as chairman of the Foundation by notice in writing to the Secretary of State.
The Secretary of State may remove a person from office as a member or as chairman of the Foundation if satisfied that –
he has been convicted of a criminal offence;
he has failed to comply with the terms of his appointment; or
he is otherwise unable or unfit to discharge his functions.
A member of the Board whose term of office expires or who has resigned shall be eligible for re-appointment.
Annotations
Textual amendments
- F1
Words in reg. 5(4)(b) inserted (21.4.2015) by The Insolvency (Northern Ireland) Order 2005 (Consequential Amendments) Order (Northern Ireland) 2015 (S.R. 2015/159), art. 1, Sch. para. 28
- F2
Words in reg. 5(4)(b) inserted (7.3.2016) by The Debt Relief Act (Northern Ireland) 2010 (Consequential Amendments) Order (Northern Ireland) 2016 (S.R. 2016/108), art. 1, Sch. para. 34