Schedule 1 to the Principal Act is amended -

(a) by the insertion, in paragraph 2, of the following subparagraph after subparagraph (3):

“(3A) Where the office of the chairperson is vacant, an interim chairperson may be appointed by the Minister from among the members of the Authority for the duration of the vacancy and where the Minister does so, the interim chairperson shall perform all the functions assigned to the chairperson by or under this Act and references in this Act to the chairperson shall be construed as including references to the interim chairperson.”,

and

(b) by the substitution, in paragraph 3(3), of the following clauses for clauses (a) and (b):

"(a) is adjudicated bankrupt and such bankruptcy has not been annulled or discharged,

(b) is an individual who is party to an insolvency arrangement that has not ceased to have effect,".