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

Chapter 3 : Prudential Authority

Part 2 : Governance

36. Appointment of Chief Executive Officer

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(1)The Governor must, with the concurrence of the Minister, appoint a Deputy Governor who has appropriate expertise in the financial sector, other than the Deputy Governor responsible for financial stability, as the Chief Executive Officer of the Prudential Authority.

 

(2)When appointing a Deputy Governor as the Chief Executive Officer, that Deputy Governor and the Governor must agree, in writing, on—
(a)the performance measures that will be used to assess the Deputy Governor’s performance as the Chief Executive Officer; and
(b)the level of performance to be achieved against those performance measures.

 

(3)A person may not be appointed or hold office as the Chief Executive Officer if the person—
(a)is a disqualified person; or
(b)is not ordinarily resident in the Republic.