7B. (1) Subject to subsection (6), the board of directors shall, with the consent of the majority-shareholding Minister, appoint the chief executive officer of the network company.

(2) The chief executive officer shall—

(a) carry on, manage and control generally, the administration of the network company, and

(b) advise the directors of the network company in relation to the performance by the network company of its functions.

(3) Subject to section 7A(2), the chief executive officer shall be an ex officio director but he or she shall not be the chairperson.

(4) The chief executive officer shall not hold any other office or occupy any other position in respect of which emoluments are payable or carry on any business without the consent of the board of directors of the network company.

(5) Subject to subsection (6), the chief executive officer shall hold office under a written contract of service for such term, and subject to such terms and conditions (including terms and conditions relating to remuneration, allowances and superannuation) as are specified in the contract, as may be determined by the board of directors with the approval of the majority-shareholding Minister given with the consent of the Minister for Public Expenditure, National Development Plan Delivery and Reform.

(6) The person who stands appointed as chief executive officer of the network company immediately before the transfer day shall, for the remainder of his or her term of office, continue to—

(a) hold that office upon and subject to the same terms and conditions as applied to his or her appointment immediately before the transfer day, and

(b) be an ex officio director.

(7) The chief executive officer may, with the consent of the majority shareholding Minister, be removed from office by the board of directors for stated reasons.]