Policyholders Protection Act 1975 (repealed)

4(1)Subject to the following provisions of this paragraph, the members and alternate members of the Board (including the chairman) shall hold and vacate office in accordance with the terms of their respective appointments.

(2)A person may at any time resign his office as a member, as an alternate member or as chairman by giving to the [F1Treasury] a notice in writing signed by that person and stating that he resigns that office.

(3)If the [F1Treasury][F2are] satisfied that a member or an alternate member—

(a)is incapacitated by physical or mental illness; or

(b)is otherwise unable or unfit to discharge his functions as such;

the [F1Treasury] may by notice in writing given to the person in question remove him from office as member or (as the case may be) as alternate member; and his office shall thereupon become vacant.

(4)Where before the end of the term for which he was appointed a member dies or vacates office by virtue of sub-paragraph (2) or (3) above—

(a)the alternate member in respect of that member may act as member in his place until a person is appointed to fill his office as member; and

(b)the [F1Treasury] may vary the terms of appointment of the alternate member on appointing a person to fill the office vacated by the member in question.

Textual Amendments