Central Bank Act 1942

F155[Tenure of office of members of Commission.

24B

24B.(1) An ex-officio member of the Commission holds office as such for as long as he or she holds or performs the duties of the office by virtue of which he or she is such a member.

(2) Subject to subsections (3) and (4), an appointed member of the Commission holds office as such for a period of 5 years unless he or she previously ceases to hold that office in accordance with a provision of this Part.

(3) Of the first 8 persons appointed as members of the Commission

(a) 2 or 3 of those persons shall be appointed for a first term of 5 years,

(b) 2 or 3 of those persons shall be appointed for a first term of 4 years, and

(c) 2 or 3 of those persons shall be appointed for a first term of 3 years.

(4) An appointed member of the Commission shall not be entitled to serve more than 2 terms of office.]

Annotations

Amendments:

F155

Inserted (1.10.2010) by Central Bank Reform 2010 (23/2010), s. 14(1) and sch. 1 part 1 item 36, S.I. No. 469 of 2010.