(1)The Regulator is to appoint, as a member of staff, a chief executive.
(2)Ministers are to appoint the first chief executive of the Regulator on such terms as they may determine.
(3)Before appointing the first chief executive, Ministers must consult the member of the Regulator appointed to chair meetings of the Regulator (if a person holds that office).
(4)The Regulator may, with the approval of Ministers, appoint subsequent chief executives on such terms as it may, with the approval of Ministers, determine.
(5)The chief executive is to be appointed from among persons who appear—
(a)as regards the first appointment, to Ministers, and
(b)as regards subsequent appointments, to the Regulator,
to have knowledge and skills relevant to the functions of the Regulator.
(6)The Regulator may, with the approval of Ministers—
(a)vary any terms of a person’s appointment as chief executive, or
(b)terminate a person’s appointment as chief executive if satisfied that the person is not performing the functions of that post adequately.
(1)The Regulator may appoint, on such terms as it may determine, other members of staff.
(2)The Regulator must obtain the approval of Ministers for the terms of such staff.
(3)Schedule 1 makes transitional provisions about the Regulator’s staff and property.