(1) There shall be a Director of the Commission (in this Act referred to as the "Director").

(2) The Director may be removed from office by the Commission for stated reasons.

(3) The Director shall hold office under a written contract of service (which contract may, at the discretion of the Commission, be renewed) for such period as is specified in the contract and subject to such terms and conditions (including terms and conditions relating to remuneration, allowances and superannuation) as are so specified, as may be determined by the Commission with the approval of the Minister given with the consent of the Minister for Public Expenditure and Reform.

(4) The Commission may designate a person to be appointed the first Director.

(5) If immediately before the establishment day, a person stands designated by the Commission under subsection (4), the person shall on the establishment day stand appointed as the first Director.