| (a) |
serves in a full-time executive capacity; |
| (b) |
holds office for a term no longer than five years, as the Board may determine; |
| (c) |
is, at the expiry of that term, eligible for re-appointment for one further term; and |
| (d) |
must vacate office before the expiry of a term of office if he or she— |
| (i) |
resigns as Chief Executive Officer of the Corporation, by giving at least three months written notice to the Board, or a shorter period that the Board may accept; or |
| (ii) |
is removed from office as Chief Executive Officer of the Corporation. |
| (2) |
The Board must, at least three months before the end of the first term of office of the Chief Executive Officer of the Corporation, inform the Chief Executive Officer of the Corporation whether the Board proposes to re-appoint him or her as Chief Executive Officer of the Corporation. |
[Section 166AM inserted by section 51 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 24 March 2023 per (a) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]
Gold Membership
