SCHEDULES

SCHEDULE 7Constitution of public benefit corporations

Directors

17

1

It is for the board of governors at a general meeting to appoint or remove the chairman and the other non-executive directors.

2

Removal of a non-executive director under sub-paragraph (1) requires the approval of three-quarters of the members of the board.

3

It is for the non-executive directors to appoint or remove the chief executive.

4

It is for a committee consisting of the chairman, the chief executive and the other non-executive directors to appoint or remove the executive directors.

5

The appointment of a chief executive requires the approval of the board of governors.