(1) The Minister for Finance is to appoint one of the members, other than the Chief Executive or the Consumer Director, to be Chairperson of the Regulatory Authority.
(1A) Where the Minister appoints or has appointed the Governor as a member of the Authority, then nothing in this Act shall be read so as to prevent the appointment of the Governor as its Chairperson.
(2) A member appointed as Chairperson holds office for 5 years from the date of the member's appointment as such, unless the member previously ceases to hold that office as provided by this section.
(3) A member holding office as Chairperson ceases to hold that office if the member -
(a) resigns from that office by notice in writing given to the Minister, or
(4) A person who ceases to be Chairperson because the person has ceased to be a member is eligible for re-appointment as Chairperson if the person is re-appointed as a member.