(1) The Minister may by written notice -
(a) remove a person from a position of director or officer of a relevant institution, or
(b) terminate the employment by a relevant institution of a person.
(2) The removal of a person or termination of a person's employment by virtue of subsection (1) -
(a) has effect without the need for any notice being given, meeting being called, resolution being passed or consent being obtained, and
(b) may be expressed to take effect immediately and, if so expressed, has that effect.
(3) Where a notice under subsection (1) is expressed to have immediate effect, no period of notice is necessary to the person concerned.
(4) The removal of a person from a position of director or officer of a relevant institution under this section also terminates any contract of service or contract for services between the person and the relevant institution.
(5) Nothing in this section deprives a person removed or whose employment is terminated of any right to claim co