Cap. 565 Art. 17Appointmentofthe Regulator.

(1) There shall be a Regulator for Family Businesses who shall be appointed by the Minister for the purpose.

(2) The Regulator shall be appointed for a period of three years and may be re-appointed upon expiration of the term of office for a further period or periods:

Provided that during his term as Regulator, such person shall not hold any position which results in a conflict of interest or is incompatible with the correct performance of his official duties as Regulator or with impartiality expected from this office or with public confidence therein.

(3) The Regulator shall receive such remuneration as the Minister may establish.

(4) When the office of the Regulator becomes vacant, a person appointed as Regulator shall hold office temporarily until a successor is appointed. The Minister may, at any time, during the absence of the Regulator or for any other temporary purpose where the Minister considers it necessary to do so, appoint a person to act in the office of the Regulator, until the resumption of office of the Regulator.

(5) The Regulator shall be provided with premises and an adequate number of officials and staff to carry out the functions assigned to him under this Act.

(6) The Minister may also appoint one or more Deputy Regulators to assist the Regulator as directed by him and in the performance of his functions: Provided that the Deputy Regulators, officials and staff appointed to assist the Regulator shall receive such remuneration as the Minister may establish.