# UK Infrastructure Bank Act 2023, Section 7: Directors: appointment and tenure

Extent: E+W+S+N.I.

The Bank must secure that its articles of association provide that—
(a) the Bank is to have at least five and no more than fourteen directors;
(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;
(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;
(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;
(e) a person may be appointed as a non-executive director no more than two times;
(f) a person ceases to be a non-executive director as soon as—
(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,
(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),
(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
(iv) the person has resigned as non-executive director in accordance with notification which the person has given to the Bank.

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Source: https://www.legislation.gov.uk/ukpga/2023/10/section/7 (the official version)
Page: https://openlegislation.uk/uk-infrastructure-bank-act-2023/section-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.