Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 4 : Financial Sector Conduct AuthorityPart 2 : Governance63. 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. |