160.—(1) There shall be a chief officer of the Board who shall be known and is referred to in this Act as the “Director”.

(2) The Director shall be appointed by the Board in accordance with procedures that have been determined by the Board with the consent of the Minister.

(3) The first appointment by the Board of a person to be the Director shall be made within 3 years from the establishment day.

(4) The Director may, at any time, for stated reasons be removed from office by the Board with the consent of the Minister.

(5) The Director shall carry on, manage and control generally the administration and business of the Board and perform such other functions as may be determined by the Board.

(6) The Director shall hold office for such period and upon and subject to such terms and conditions (including terms and conditions relating to remuneration) as may be determined from time to time by the Minister, after consultation with the Board and with the consent of the Minister for Finance.