525Conditions of appointment of directors

525 Conditions of appointment of directors (1) A director— (a) holds office for a fixed term as specified in the instrument of appointment; and (b) holds office on the terms and conditions (including remuneration and allowances) that are specified in the instrument of appointment; and (c) may be reappointed; and (d) may resign from office by delivering a signed letter of resignation to the Minister; and (e) in respect of the office of director, is subject to the **Public Administration Act 2004** (other than Part 3 of that Act). (2) The office of a director becomes vacant if the director— (a) becomes insolvent under administration; or (b) is found guilty of an indictable offence; or (c) is absent from 3 consecutive board meetings without the approval of the board; or (d) retires, resigns or dies. S. 526 substituted by No. 73/2016 s. 15.