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

(2) The chief executive (other than a chief executive reappointed under subsection (6)) shall, subject to subsection (4), be appointed by the Regulator from among persons in respect of whom a recommendation for the purposes of this section has been made by the Public Appointments Service after a competition for that purpose under section 47 of the Public Service Management (Recruitment and Appointments) Act 2004 has been held.

(3) The Public Appointments Service shall not, in relation to a competition referred to in subsection (2), make a recommendation for the purposes of that subsection in respect of more than 3 persons.

(4) (a) Where a competition to appoint a chief executive is held before the establishment day, the successful candidate may be appointed by the Minister as the chief executive designate of the Regulator.

(b) Notwithstanding subsection (2), the chief executive designate shall be appointed chief executive on the establishment of the Regulator.

(c) For the purposes of subsection (5), the date of the person’s appointment under paragraph (a) shall be deemed to be the date of his or her appointment under this section.

(5) The chief executive shall hold office for such period not exceeding 5 years from the date of his or her appointment as the Regulator may determine with the prior approval of the Minister given with the consent of the Minister for Public Expenditure and Reform.

(6) The Regulator may reappoint a person whose term of office as chief executive expires by the passage of time to be the chief executive.

(7) A person who is reappointed to be the chief executive under subsection (6) shall not hold office for periods the aggregate of which, including the period for which he or she was first appointed to be chief executive, exceeds 10 years.

(8) 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 Regulator with the prior approval of the Minister given with the consent of the Minister for Public Expenditure and Reform.

(9) The chief executive shall not hold any other office or employment or carry on any business without the consent of the Regulator given with the prior approval of the Minister.

(10) The chief executive shall not be a member of the Regulator or of any committee of the Regulator, but he or she may, in accordance with procedures established by the Regulator or a committee of the Regulator, as the case may be, attend meetings of the Regulator or the committee, as the case may be, and shall be entitled to speak at and advise such meetings.

(11) The chief executive may, with the prior approval of the Minister, be removed from office by the Regulator for stated reasons.