Print Options

(1) A member of the investment Advisory Committee shall hold office for two or three years and is eligible for re-appointment, but a member shall not be appointed for more than two consecutive terms.

(2) Despite subsection (1), a member appointed for a three-year term is not eligible for re-appointment.

(3) A member appointed for a two-year term is eligible for one re-appointment but only for another two year term.

(4) The President shall appoint three of the members for three years and four of the members for two years_

(5) A member of the Investment Advisory Committee may at any time resign from the office in writing addressed to the President through the Minister.

(6) A member who is absent from two consecutive meetings of the Investment Advisory Committee without sufficient cause ceases to be a member of the Investment Advisory Committee and shall be immediately replaced.

(7) The President may by letter addressed to a member revoke the appointment of that member.

(8) Where a member of the Investment Advisory Committee is for sufficient reason, unable to act as a member, the Minister shall determine whether the inability would result in a declaration of a vacancy.

(9) Where there is a vacancy

(a) under subsection (5), (6), (7) or section 34 (2),

(b) as a result of a declaration under subsection (8), or

(c) By reason of the death of a member, the Minister shall notify the President of the vacancy and the President shall appoint another person to fill the vacancy.