Section 11Part 2 — Establishment, Capital and Administration of Authority
Board of directors
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There shall be a board of directors of the Authority which, subject to this Law, shall be responsible for the governance, policy and performance of the Authority and the general conduct of its affairs and business.
The board shall consist of —
the managing director as an ex officio director; and
not more than nine other directors (including the chairperson of the board and the deputy chairperson of the board), appointed in accordance with sections 12 and 13, each of whom shall be a fit and proper person and shall have demonstrated to the satisfaction of the Cabinet substantial knowledge and experience relevant to at least some of the functions of the Authority.
The chairperson of the board and the deputy chairperson of the board, respectively, shall be designated by the Cabinet.
Defined Terms
board of directorsmanaging directorchairpersondeputy chairpersonfit and proper person
Cross References
- Section 12 of Monetary Authority Actexternal
appointment of directors
- Section 13 of Monetary Authority Actexternal
appointment of managing director