SCHEDULES
F3Schedule 6A The New Opportunities Fund
F2Tenure of office
Crossheading inserted (2.7.1998) by 1988 c. 22, s. 7(3), Sch. 2.
F13
1
Subject to the following provisions of this paragraph, a person shall hold and vacate office as chairman or other member of the New Opportunities Fund in accordance with the terms of his appointment.
2
The Secretary of State shall not appoint a person to hold office as a member of the New Opportunities Fund for a term of more than five years.
3
A chairman or member of the New Opportunities Fund may at any time resign his office by notice in writing addressed to the Secretary of State.
4
A member of the New Opportunities Fund may be removed from office by the Secretary of State on the ground that—
a
he has been absent for a period longer than three consecutive months from meetings of the Fund without the Fund’s consent,
b
a bankruptcy order has been made against him, or his estate has been sequestrated, or he has made a composition or arrangement with, or granted a trust deed for, his creditors, or
c
he is unable or unfit to discharge the functions of his office.
5
If a chairman of the New Opportunities Fund ceases to be a member of the Fund he shall also cease to be chairman.
6
A person who ceases, otherwise than by virtue of sub-paragraph (4), to be a member or chairman of the New Opportunities Fund shall be eligible for re-appointment.
Sch. 6A inserted (2.7.1998) by 1998 c. 22, s. 7(3), Sch. 2.