40.— (1) Where a member of the Authority—

(a) accepts nomination as a member of Seanad Éireann,

(b) is elected as a member of either House of the Oireachtas or to the European Parliament, or

(c) is regarded pursuant to Part XIII of the Second Schedule to the European Parliament Elections Act 1997, as having been elected to the European Parliament to fill a vacancy,

he or she ceases to be a member of the Authority.

(2) Where the chief executive of the Authority—

(a) accepts nomination as a member of Seanad Éireann,

(b) is elected as a member of either House of the Oireachtas or to the European Parliament,

(c) is regarded pursuant to Part XIII of the Second Schedule to the European Parliament Elections Act 1997, as having been elected to the European Parliament to fill a vacancy, or

(d) becomes a member of a local authority,

he or she ceases to be chief executive of the Authority.

(3) Where a member of staff of the Authority or a subsidiary—

(a) accepts nomination as a member of Seanad Éireann,

(b) is elected as a member of either House of the Oireachtas or to the European Parliament, or

(c) is regarded pursuant to Part XIII of the Second Schedule to the European Parliament Elections Act 1997, as having been elected to the European Parliament to fill a vacancy, or

(d) becomes a member of a local authority,

he or she stands seconded from his or her employment by the Authority or subsidiary and shall not be paid by, or be entitled to receive from, the Authority or subsidiary remuneration or allowances in respect of the period commencing on such nomination or election or when he or she is so regarded as having been elected, as the case may be, and ending when he or she ceases to be a member of either such House or such Parliament or such local authority.

(4) A person to whom subsection (3) refers may stand seconded for a period of no longer than 10 years.

(5) A person who is, for the time being, entitled under the Standing Orders of either House of the Oireachtas to sit therein or who is a member of the European Parliament is, while he or she is so entitled or is such a member, disqualified from becoming a member of the Authority.

(6) Without prejudice to the generality of subsection (3), that subsection shall be construed as prohibiting, among other things, the reckoning of a period therein mentioned as service with the Authority for the purpose of any superannuation benefits.