Policyholders Protection Act 1975 (repealed)

Appointment and tenure of members, etc. U.K.

2 (1) Any appointment made by the [F1 Treasury] under paragraph 1 above shall be for a term not exceeding two years and the term of appointment of an alternate member shall not exceed the term, or the remainder of the term (as the case may be) of the member in respect of whom he is appointed.

(2) Nothing in sub-paragraph (1) above shall be taken as prejudicing the power of the [F1 Treasury] to re-appoint a person as a member or alternate member of the Board on his ceasing to hold office in either capacity, or at any time thereafter.

Textual Amendments

F1 Words in Sch. 1 para. 2 substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1), 8(1), Sch. Pt. II paras. 98, 99 (with art. 7)

3 (1) The [F2 Treasury] shall appoint one of the members of the Board to be the chairman of the Board.

(2) If the chairman ceases to be a member of the Board he shall cease to be the chairman.

Textual Amendments

F2 Word in Sch. 1 para. 3 (1) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1), 8(1), Sch. Pt. II paras. 98, 99 (with art. 7)

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 [F3 Treasury] a notice in writing signed by that person and stating that he resigns that office.

(3) If the [F3 Treasury][F4 are] 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 [F3 Treasury] 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 [F3 Treasury] 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

F3 Words in Sch. 1 para. 4(2)(3)(4)(b) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1), 8(1), Sch. Pt. II paras. 98, 99 (with art. 7)

F4 Word in Sch. 1 para. 4(3) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1), 8(1), Sch. Pt. II paras. 98, 104(b) (with art. 7)