5Terms and conditions of appointment

5 Terms and conditions of appointment

(1) The Regulator—

(a) holds office for a term, not exceeding 5 years, specified in the instrument of appointment; and

(b) is appointed on the terms and conditions that are specified in the instrument of appointment.

(2) The instrument of appointment must specify—

(a) the remuneration and allowances (if any) of the Regulator; and

(b) whether the Regulator is appointed on a full‑time or part-time basis.

(3) The Public Administration Act 2004 (other than Part 3 of that Act) applies to the Regulator in respect of that office.

(4) If the Regulator was, immediately prior to appointment to that office, an officer within the meaning of the State Superannuation Act 1988, the Regulator, despite that appointment, continues to be an officer within the meaning of, and subject to, that Act.

(5) The Regulator may be re-appointed.