Chwilio Deddfwriaeth

Chwiliad Uwch

Policyholders Protection Act 1975

Status:

Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).

Constitution of the Board

1(1)The Board shall consist of five persons appointed by the Secretary of State to be members of the Board, together with any persons appointed by the Secretary of State under sub-paragraph (3) below to be alternate members.

(2)Of the persons appointed to be members of the Board—

(a)at least three shall be persons who are directors, chief executives or managers* of authorised insurance companies ; and

(b)at least one shall be a person appearing to the Secretary of State to be qualified to represent the interests of policyholders of authorised insurance companies.

(3)The Secretary of State may appoint, in respect of each member of the Board, a person to perform his duties as a member in his absence, and a person so appointed shall be an alternate member of the Board and may take part in the proceedings of the Board in the absence of the member in respect of whom he was appointed or as provided by paragraph 4(4) below (but not otherwise).

(4)A person appointed as an alternate member of the Board in respect of a person who is a director, chief executive or manager of an authorised insurance company shall himself be such a director, chief executive or manager; and a person so appointed in respect of any such person as is mentioned in sub-paragraph (2)(b) above shall himself be a person appearing to the Secretary of State to be qualified as there mentioned.

(5)The Secretary of State shall consult persons appearing to him to be representative of the interests of authorised insurance companies before appointing a person who is a director, chief executive or manager of an authorised insurance company to be a member or alternate member of the Board.

Yn ôl i’r brig

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