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

Chapter 3 : Prudential Authority

Part 2 : Governance

38. Term of office of Chief Executive Officer

 

(1) A person appointed as the Chief Executive Officer—
(a) holds office for a term no longer than five years, as the Governor may determine;
(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 as Chief Executive Officer, by giving at least three months written notice to the Governor, or a shorter period that the Governor may accept;
(ii) ceases to hold office as Deputy Governor; or
(iii) is removed from office as Chief Executive Officer.

 

(2) The Governor must, at least three months before the end of the Chief Executive Officer’s first term of office, inform the Chief Executive Officer whether the Governor proposes to re-appoint the person as Chief Executive Officer.