[F12B(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 3 years for which a person is appointed as a member of the Committee under section 13(2)(c), 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.
(3)If a person whose first term of office is extended is subsequently re-appointed under section 13(2)(c)—
(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).]
Textual Amendments
F1Sch. 3 para. 2B 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. 2 para. 2(4) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch.