3.—(1) Subject to the provisions of this paragraph, a person shall hold and vacate office as the Commissioner in accordance with the terms of his appointment.N.I.
(2) An appointment as the Commissioner shall be for a term of 4 years.
(3) A person who ceases to be the Commissioner on the expiration of his first term of office shall be eligible for re-appointment, but a person who has been re-appointed by virtue of this sub-paragraph shall not be eligible for appointment or re-appointment as the Commissioner at any time after the end of his second term of office.
(4) A person may at any time resign his office as the Commissioner by notice to the First Minister and deputy First Minister.
(5) The First Minister and deputy First Minister acting jointly may remove a person from office as the Commissioner if satisfied that he has—
(a)been convicted of a criminal offence;
(b)become bankrupt [F1or is the subject of a bankruptcy restrictions order] [F2or had a debt relief order made against him or is the subject of a debt relief restrictions order] or made an arrangement or composition with his creditors;
(c)without reasonable excuse, failed to discharge his functions for a continuous period of 3 months; or
(d)become unfit or unable to exercise his functions.
F1Words in Sch. 2 para. 3(5)(b) inserted (21.4.2015) by The Insolvency (Northern Ireland) Order 2005 (Consequential Amendments) Order (Northern Ireland) 2015 (S.R. 2015/159), art. 1, Sch. para. 13