(1) The articles of association of the Company shall provide that the appointment of directors shall be subject to this Act.
(2) The number of directors of the Company (including the chairperson and deputy chairperson) is such number as the Minister prescribes from time to time.
(3) The Minister may from time to time prescribe bodies that appear to the Minister to represent the financial services industry. Each of those bodies is entitled to nominate a director for appointment by the Company.
(4) The Minister may from time to time prescribe bodies that, or natural persons who, appear to the Minister to represent the interests of the clients of investment firms. Each of the bodies so prescribed may nominate a director for appointment by the Company. The Company shall appoint each natural person so prescribed to be a director of the Company.
(5) The Governor of the Bank shall nominate and appoint the chairperson and deputy chairperson of the Board.
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