[F13(1)If it appears to the Chancellor of the Exchequer that in the circumstances it is desirable to do so, the Chancellor may, before the end of the term for which a person is appointed as a member of the Committee under section 9B(1)(e), extend the persons's term of office on one occasion for a specified period of not more than 6 months.U.K.
(2)The term being extended may be the person's first or second term or, in a case where paragraph 2(2) allows a third term, the person's third term.
(3)If a person whose first term of office is extended is subsequently re-appointed under section 9B(1)(e)—
(a)the length of the second term is to be reduced by a period equal to the extension of the first term, but
(b)the second term may itself subsequently be extended under sub-paragraph (1).
(4)In a case where a person's second term of office is extended and paragraph 2(2) allows a third term, sub-paragraph (3) is to be read as if the references to first and second terms were references to second and third terms respectively.]
Textual Amendments
F1 Sch. 2A inserted (19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21) , s. 122(3) , Sch. 1 Pt. 1 (with Sch. 20 ); S.I. 2013/113 , art. 2(2) , Sch. Pt. 4 ; S.I. 2013/423 , art. 3 , Sch.