(1) A director (other
than an acting director) will be appointed for a term, not exceeding three
years, specified in the instrument of appointment and will, at the expiration
of a term of appointment, be eligible for reappointment.
(2) The Governor may
remove a director from office on the recommendation of the Minister.
(3) The Minister may
recommend the removal of a director on any ground that the Minister considers
sufficient.
(4) The office of a
director becomes vacant if the director—
(a)
dies; or
(b)
completes a term of office and is not reappointed; or
(c)
resigns by written notice to the Minister; or
(d)
becomes bankrupt or applies to take the benefit of a law for the relief of
insolvent debtors; or
(e) is
convicted of an indictable offence or sentenced to imprisonment for an
offence; or
(f) is
removed from office under subsection (2).