33X.—(1) The F234[Bank shall] appoint a person as the Registrar of Credit Unions.

(2) A person appointed as Registrar holds office for a period not exceeding 5 years from the date of appointment, unless the person previously ceases to hold that office as provided by this section.

(3) The F234[Bank] may appoint a person holding office as Registrar for a further period, not exceeding 5 years, to take effect at the end of the person’s current period of appointment. This subsection applies whether the person was appointed under subsection (1) or this subsection.

(4) The appointment of a person as Registrar does not take effect until the Minister approves it.

(5) A person is not eligible for appointment as Registrar if the person—

(a) is a member of either House of the Oireachtas or is, with the person’s consent, nominated as a candidate for election as such a member or is nominated as a member of Seanad Éireann, or

(b) is a member of the European Parliament or is, with the person’s consent, nominated as a candidate for election as such a member or to fill a vacancy in the membership of that Parliament, or

(c) is a member of a local authority or is, with the person’s consent, nominated as a candidate for election as such a member.

(6) A person appointed as Registrar holds office on such conditions of employment as are specified in the person’s document of appointment or are later agreed between the person and the F234[Bank].

(7) The Registrar may engage in other remunerative employment only with the consent of the F234[Bank].

(8) A person ceases to hold office as Registrar if the person—

(a) dies, or

(b) completes a term of office and is not re-appointed, or

(c) resigns the office by notice in writing addressed to F234[Bank], or

(d) is, with the person’s consent, nominated as a candidate for election as a member of either House of the Oireachtas or is nominated as a member of Seanad Éireann, or

(e) is, with the person’s consent, nominated as a candidate for election as a member of the European Parliament or to fill a vacancy in the membership of that Parliament, or

(f) is, with the person’s consent, nominated as a candidate for election as a member of a local authority, or

(g) is adjudged bankrupt (either in the State or elsewhere) or enters into a composition with the person’s creditors, or

(h) becomes physically or mentally incapable of performing the duties of Registrar, or

(i) is convicted of an offence (either in the State or elsewhere) and sentenced to serve a term of imprisonment for the offence, or

(j) is removed from office under subsection (9).

(9) The F234[Bank] may (but only after consulting the Minister) remove or suspend the Registrar from office, but only for reasons notified in writing to the Registrar.]