45. (1) The Minister, at any time before the dissolution day, may designate a person to be appointed to be the first chief executive of the Agency.

(2) If, immediately before the dissolution day, a person stands designated by the Minister under subsection (1), the person shall, on the dissolution day stand appointed as the first chief executive of the Agency.

(3) A person standing designated under subsection (1) who stood appointed immediately before his or her appointment under subsection (2) as chief executive of the dissolved body (in this section referred to as the “first appointment”) shall hold office as the first chief executive of the Agency for such term as the Minister may direct when designating that person under subsection (1) being—

(a) the unexpired term of the first appointment, or

(b) a period longer than the unexpired term which does not exceed seven years.

(4) A person, other than a person referred to in subsection (3), standing designated under subsection (1) shall hold office as the first chief executive of the Agency for such term not exceeding seven years as the Minister shall direct when designating that person under subsection (1).

(5) The first chief executive shall hold office under a written contract of service for a period, 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 Minister with the approval of the Minister for Public Expenditure and Reform.

(6) Subsections (2), (4), (6) and (7) of section 17 shall apply to the first chief executive of the Agency.