29Termination

29 Termination

(1) The Board may terminate the appointment of the CEO: (a) for misbehaviour or physical or mental incapacity; or (b) if the Board is satisfied that the performance of the CEO has been unsatisfactory for a significant period. (2) The Board must 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 his or her creditors; or (iv) makes an assignment of his or her remuneration for the benefit of his or her 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 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; or (d) the CEO engages, except with the Chair’s approval, in paid employment outside the duties of his or her office. (3) If the Board terminates the appointment of the CEO, the Board must notify the Minister of the termination.