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Amendment of section 9 of Principal Act.
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2.—(1) Section 9 of the Principal Act is hereby amended by the substitution for subsections (2) to (5) of the following subsections:
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“(2) (a) The Minister shall, before the 1st day of January, 1994, appoint 6 persons to be ordinary members of the Board and the term of office of every person so appointed shall commence on the 1st day of January, 1994, and if any such person dies before that date he shall be deemed for the purposes of subsection (5) to have died on the 1st day of January, 1994.
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(b) The Minister may, as occasion requires after the 1st day of January, 1994, appoint a person to be an ordinary member of the Board in place of an ordinary member whose term of office expires by effluxion of time and the term of office of every person so appointed shall commence on the day next following the day of his appointment.
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(2A) Subject to the provisions of this section, each ordinary member of the Board shall hold office on such terms and conditions as the Minister may determine.
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(3) (a) Subject to the provisions of this subsection, the term of office of an ordinary member of the Board shall be 3 years.
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(b) The term of office of 2 (determined by the Minister by lot) of the first ordinary members appointed pursuant to subsection (2) (a) of this section shall be 1 year.
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(c) The term of office of 2 (determined by the Minister by lot) of the first ordinary members appointed pursuant to subsection (2) (a) of this section shall be 2 years.
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(d) Notwithstanding paragraphs (a) to (c) of this subsection, every member of the Board appointed under subsection (2) of this section shall, unless he sooner dies, resigns, becomes disqualified or is removed, hold office until the expiration of the day on which the Minister next appoints, in pursuance of that subsection, a person to replace that person as an ordinary member of the Board.
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(4) Whenever an ordinary member of the Board dies, resigns, becomes disqualified or is removed—
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(a) the Minister shall, as soon as conveniently may be, appoint another person to fill the casual vacancy so occasioned, and
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(b) the person so appointed shall, unless he sooner dies, resigns, becomes disqualified or is removed, hold office for the remainder of the term of office of the member who occasioned the casual vacancy he is appointed to fill and shall be eligible for re-appointment.
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(5) An ordinary member of the Board shall be disqualified from holding and shall cease to hold office if he is adjudged bankrupt, or makes a composition or arrangement with his creditors, or is sentenced by a court of competent jurisdiction to suffer imprisonment or penal servitude.”.
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(2) This section shall come into operation on the 1st day of January, 1994.
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