Regulator’s terms of appointment
1.—(1) The period for which a person is appointed as Regulator must not exceed five years.
(2) A person who has held office as Regulator may be re-appointed, once only, for a further period not exceeding five years.
(3) The Regulator may at any time resign the office by giving notice in writing to the Department.
(4) The Department may at any time remove the Regulator on the ground of incapacity or misbehaviour.
(5) Subject to that, the Regulator holds and vacates office on the terms determined by the Department.