23Vacancy in office of CEO

23 Vacancy in office of CEO

23 Vacancy in office of CEO

(1) The CEO vacates office if—

(a) the CEO’s appointment is terminated by the Board under subsection (2), or

(b) the CEO resigns the office by written instrument addressed to the Chairperson.

(2) The Board may terminate the CEO’s appointment only after consulting the Treasurer and Finance Minister.

(3) The resignation of the CEO under subsection (1)(b) takes effect on—

(a) the day the instrument of resignation is received by the Chairperson, or

(b) if a later date is specified in the instrument of resignation—the later day.

(4) If the CEO vacates office, the Chairperson must give the Treasurer and Finance Minister written notice that—

(a) the CEO’s appointment has been terminated, or

(b) the CEO has resigned.