Section 128 of the Principal Act is amended -

(a) by the insertion of the following subsections after subsection (1):

"(1A) Without prejudice to subsection (1), the Minister may, subject to the consent of the Minister for Finance, appoint a person who also holds the office of Financial Services and Pensions Ombudsman to hold the Office of the Financial Services and Pensions Ombudsman.

(1B) An appointment referred to in subsection (1A) shall be made for a period that does not exceed the remaining period of appointment of the person concerned as Financial Services and Pensions Ombudsman.",

and

(b) by the insertion of the following subsection after subsection (2):

"(3) In subsection (1B), 'remaining period' means, in relation to an appointment of a person, the period commencing on the appointment of the person under this section and ending on the expiry of the period of the appointment of that person as Financial Services and Pensions Ombudsman under section 57BJ of the Act of 1942.".