{
  "url": "https://openlegislation.uk/uk-infrastructure-bank-act-2023/section-7",
  "json_url": "https://openlegislation.uk/uk-infrastructure-bank-act-2023/section-7.json",
  "legislation": "ukpga/2023/10",
  "legislation_title": "UK Infrastructure Bank Act 2023",
  "legislation_url": "https://openlegislation.uk/uk-infrastructure-bank-act-2023",
  "path": "section/7",
  "kind": "section",
  "number": "7",
  "heading": "Directors: appointment and tenure",
  "text": "The Bank must secure that its articles of association provide that—\n(a) the Bank is to have at least five and no more than fourteen directors;\n(b) the chair of the Bank’s board, the Bank’s chief executive officer and the non-executive directors are to be appointed by the Chancellor of the Exchequer;\n(c) the Board is to appoint one or more directors to be responsible for ensuring that the Board considers the interests of the appropriate national authorities when making decisions;\n(d) the period of a non-executive director’s appointment is not to exceed four years, or such shorter period as may be specified in the terms on which the director is appointed;\n(e) a person may be appointed as a non-executive director no more than two times;\n(f) a person ceases to be a non-executive director as soon as—\n(i) the person ceases to be a director by virtue of any provision of the Companies Act 2006 or is prohibited from being a director by law,\n(ii) the person becomes bankrupt (in relation to England and Wales and Northern Ireland) or the person’s estate has been sequestrated (in relation to Scotland),\n(iii) a registered medical practitioner who is treating the person gives a written opinion to the Bank stating that the person has become physically or mentally incapable of acting as a director and is likely to remain so for more than three months, or\n(iv) the person has resigned as non-executive director in accordance with notification which the person has given to the Bank.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 7 in force at 23.5.2023, see s. 11(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2023/10/section/7",
    "retrieved_at": "2026-10-29T08:53:15.947465+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}