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Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 4 : Financial Sector Conduct Authority

Part 2 : Governance

63. Terms of office

 

(1) A person appointed as Commissioner or Deputy Commissioner
(a) holds office for a term determined by the Minister, which term may not be longer than five years;
(b) is, at the expiry of that term, eligible for re-appointment for one further term; and
(c) must vacate office before the expiry of a term of office if that person—
(i) resigns by giving at least three months written notice to the Minister, or a shorter period that the Minister may accept; or
(ii) is removed from office as Commissioner or Deputy Commissioner, as the case may be.

 

(2) The Minister must, at least three months before the end of a person's first term of office as Commissioner or Deputy Commissioner, inform the person whether the Minister proposes to re-appoint that person as Commissioner or Deputy Commissioner, as the case may be.