(1) A member of the Electricity Market Oversight Panel shall hold office for a period not exceeding three years and is eligible for reappointment but a member other than an ex-officio member, shall not be appointed for more than two terms.
(2) A member of the Electricity Market Oversight Panel who is absent from four consecutive meetings of the Electricity Market Oversight Panel without sufficient cause ceases to be a member of the Electricity Market Oversight Panel.
(3) A member of the Electricity Market Oversight Panel may at any time resign from office in writing addressed to the Minister through the chairperson.
(4) The Minister may by letter addressed to a member revoke the appointment of that member.
(5) Where a member of the Electricity Market Oversight Panel is, for a sufficient reason, unable to act as a member, the Minister shall determine whether the inability would result in the declaration of a vacancy.
(6) Where there is a vacancy under sub regulations (2), (3) and (4) or by reason of the death of a member, the chairperson of the Electricity Market Oversight Panel shall notify the Minister through the Commission of the vacancy within two months of the occurrence of the vacancy and the Minister shall appoint a person to fill the vacancy.