15.— (1) There shall be a chief executive officer of the Authority (in this Act referred to as the “chief executive”).

(2) Subject to subsections (4) and (5), the chief executive shall be appointed by the Authority with the consent of the Minister.

(3) The chief executive may be removed from office by the Authority for stated reasons.

(4) The Minister may, before the establishment day, designate a person to be appointed the first chief executive of the Authority.

(5) If, immediately before the establishment day, a person stands designated by the Minister under subsection (4), the Authority shall appoint that person to be the first chief executive.

(6) The chief executive shall hold office upon and subject to such terms and conditions (including terms and conditions relating to remuneration, allowances and superannuation) as may be determined by the Authority with the consent of the Minister and the Minister for Public Expenditure and Reform.

(7) The chief executive shall not hold any other office or employment or carry on any business without the consent of the Authority.