Bank Simpanan Nasional Act 1974 · Updated to 1 Dec 2011 · Part III · Constitution of the Bank
8. Terms of appointment of Chairman and directors
Official textFrom Laws of Malaysia Online, unchanged
Subject to the provisions of this Act—
the Chairman shall be appointed for a term not exceeding five years and shall be eligible for reappointment; and
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any other director (other than the Chief Executive) shall hold office for a term not exceeding three years and shall be eligible for reappointment.
Directors shall be paid by the Bank such salaries, fees or allowances as may be determined by the Minister.
Bank
“Bank” means the Bank Simpanan Nasional established under section 3; ______________________________________________________________ *NOTE—This Act will be repealed by Bank Simpanan Nasional Berhad Act 1997 when…
During the temporary incapacity owing to illness or during the temporary absence from Malaysia of the Chairman, the Deputy Chairman may act as temporary Chairman, and if both the Chairman and the Deputy
Chairman are absent, the Minister may appoint one of the other directors to be temporary Chairman.
The Minister may at any time terminate the appointment of the
Chairman or any director who—
director
“director” means a member of the Board appointed under section 6 and includes the Chairman and alternate director;
is guilty of serious misconduct in relation to his office;
is absent, except on leave or with the approval of the Minister, from more than three consecutive meetings of the Board;
fails to comply with his obligations under section 12; or
is, in the opinion of the Minister, unfit to remain as Chairman or director.
No person shall be appointed or remain as Chairman or director of the Bank if he—
is convicted by a court of law of an offence and sentenced to imprisonment for a term of not less than one year, or of any offences involving fraud or dishonesty and has not received a free pardon;
becomes of unsound mind or otherwise incapable of carrying out his duties; or
becomes a bankrupt or makes any arrangement or composition with his creditors.
(Deleted by Act A397).
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Terms defined in s 2
Bank
Defined · s 2“Bank” means the Bank Simpanan Nasional established under section 3; ______________________________________________________________ *NOTE—This Act will be repealed by Bank Simpanan Nasional Berhad Act 1997 when…
Chief Executive
Defined · s 2“Chief Executive” means the Chief Executive appointed under section 9 and includes any person appointed to act as the Chief Executive;
director
Defined · s 2“director” means a member of the Board appointed under section 6 and includes the Chairman and alternate director;
Part IV
Officers and Employees of the Bank
Part V
Provisions Relating to the Carrying on of Business of the Bank
Part VI
Financial Provisions
Part VII
General
Part VIII