9Directors: appointment
This section has no associated Explanatory Notes
(1)The articles of association must provide that—
(a)the Bank is to have between 9 and 13 directors,
(b)there must be at least 2 executive directors (one of whom must be designated in the articles as chief executive and the other as chief financial officer),
(c)there may not be more than 4 executive directors,
(d)at least two thirds of the directors must be non-executive directors.
(2)The articles of association must provide that all of the Bank’s directors are to be appointed by the Scottish Ministers.
(3)The articles of association must provide that the chair of the Bank’s board is to be one of the non-executive directors appointed to the office of chair by the Scottish Ministers.