262Termination of appointment

262 Termination of appointment

(1) The Minister may terminate the appointment of the Funding Body CEO for misbehaviour or physical or mental incapacity. (2) The Minister may terminate the appointment of the Funding Body CEO if the Minister is satisfied that the Funding Body CEO’s performance has been unsatisfactory. (3) Before the Minister terminates the appointment of the Funding Body CEO under subsection (1) or (2), the Minister must consult the Administrator. (4) The Minister must terminate the appointment of the Funding Body CEO if: (a) the Funding Body 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 Funding Body CEO is absent, except on leave of absence, for 14 consecutive days or for 28 days in any 12 months; or (c) the Funding Body 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 Funding Body CEO engages, except with the approval of the Minister, in paid employment outside the duties of his or her office (see section 257).