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SCHEDULE 4 - Terms of appointm SCHEDULE 4 - Terms of appointment

1. Duration of appointment

(1) The Regulator and Deputy Regulator each hold office for such term, not exceeding 5 years, as is specified in the instrument of appointment for that person.

(2) A person who has been appointed as the Regulator or the Deputy Regulator may from time to time be reappointed for a single further term, not exceeding 5 years, as may be specified in the instrument of appointment for that person.

2. Terms of appointment

(1) The Regulator and Deputy Regulator hold office, respectively, on such conditions relating to matters not provided for by this Act as are specified in the instrument of appointment for that person.

(2) The Regulator and Deputy Regulator must not, except in so far as authorised to do so by the Governor –

(a) hold any office of profit, or trust, other than the office to which the Regulator or Deputy Regulator is appointed under this Act; or

(b) engage in paid employment outside the duties of that office.

(3) The State Service Act 2000 does not apply in relation to the Regulator and Deputy Regulator.

3. Remuneration

(1) The remuneration and allowances payable to the Regulator and Deputy Regulator are to be specified in the instrument of appointment for that person or otherwise determined by the Governor.

(2) The Regulator and Deputy Regulator are employees for the purposes of the Public Sector Superannuation Reform Act 2016 .

4. Vacation of office

A person appointed as the Regulator or Deputy Regulator is taken to vacate that office if the person –