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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 19 December 2012 - onwards

49. Membership of Board of ReBo, etc.

(1) Subject to subsection (2), the Minister shall appoint the Board of ReBo which shall consist of such number of persons as the Minister may determine, including an employee of the Bank nominated by the Governor for appointment as a non-voting member of the Board of ReBo.

(2) Each member of the Board shall be appointed for such period as the Minister thinks fit, and every person so appointed, other than the person nominated by the Governor of the Bank, shall be chosen by the Minister for appointment -

(a) by reason of that person’s knowledge of matters pertaining to the restructuring of credit unions, or

(b) because, in the opinion of the Minister, that person is capable of giving substantial practical assistance in respect of the work of the Board.

(3) The Minister shall from time to time nominate one member of the Board of ReBo to act as its chairperson (in this Part referred to as the "Chair of ReBo").

(4) There shall be paid to every member of the Board of ReBo such remuneration and expenses as the Minister may determine from time to time. The Minister may determine that the Chair of ReBo shall be paid additional remuneration or allowances on account of his or her responsibilities as chairperson.

(5) The Board of ReBo shall -