40ATermination of appointment

#### 40A Termination of appointment (1) The Board may terminate the appointment of the CEO: (a) for misbehaviour; or (b) if the CEO is unable to perform the duties of the CEO’s office because of physical or mental incapacity. (2) The Board may terminate the appointment of the CEO if: (a) the CEO: (i) becomes bankrupt; or (ii) applies to take the benefit of any law for the relief of bankrupt or insolvent debtors; or (iii) compounds with the CEO’s creditors; or (iv) makes an assignment of the CEO’s remuneration for the benefit of the CEO’s creditors; or (b) the CEO is absent, except on leave of absence, for 14 consecutive days or for 28 days in any 12 months; or (c) the CEO engages, except with the Board’s approval, in paid work outside the duties of the CEO’s office (see section 38); or (d) the CEO fails, without reasonable excuse, to comply with section 39 (which deals with the duty to disclose interests); or (e) the CEO fails, without reasonable excuse, to comply with section 29 of the Public Governance, Performance and Accountability Act 2013 (which deals with the duty to disclose interests) or rules made for the purposes of that section. (3) The Board may terminate the appointment of the CEO if the Board is satisfied that the performance of the CEO has been unsatisfactory for a significant period of time. (4) The Board must consult the Minister before terminating the appointment of the CEO.