Page:Deposit Protection Scheme Ordinance (Cap. 581).pdf/49

DEPOSIT PROTECTION SCHEME ORDINANCE Rh

1. Interpretation

In this Schedule—

“panel member” (小組成員) means a member of the panel referred to in section 40(5) of this Ordinance;

“parties” (各方)—
 * (a) in relation to a review of a decision or assessment of the Board, means the applicant or the Board;
 * (b) in relation to a review of a decision of the Monetary Authority, means the applicant or the Monetary Authority;

“Tribunal member” (審裁處成員) means a member of the Tribunal appointed under section 40(3)(b) of this Ordinance.

2. Tenure of Chairman

(1) The Chairman of the Tribunal shall be appointed for a term not exceeding 3 years or appointed to act in relation to any specified review.

(2) On the expiry of his period of appointment or reappointment, the Chairman of the Tribunal is eligible for reappointment.

(3) The Chairman of the Tribunal may resign from office by giving notice in writing to the Chief Executive. A notice of resignation takes effect on the date specified in the notice or, if no date is specified, on the date of receipt by the Chief Executive of the notice.

(4) If the Chief Executive is satisfied that the Chairman of the Tribunal—
 * (a) has become bankrupt;
 * (b) is incapacitated by physical or mental illness; or
 * (c) is otherwise unable or unfit to perform the functions of the Chairman of the Tribunal,

the Chief Executive may, after consultation with the Chief Justice, declare his office as Chairman of the Tribunal to be vacant, and shall notify the fact in such manner as the Chief Executive thinks fit; and upon such declaration the office becomes vacant.

(5) If a review has been commenced by the Tribunal but not completed before the expiry of the term of office of the Chairman of the Tribunal, the Chief Executive may authorize the Chairman to continue to act as the Chairman for the purpose of completing the review.

3. Tenure of panel members

(1) A panel member shall be appointed for a term not exceeding 3 years.

(2) On the expiry of his period of appointment or reappointment, a panel member is eligible for reappointment for such further term as the Chief Executive may specify.

(3) A panel member may resign from office by giving notice in writing to the Chief Executive. A notice of resignation takes effect on the date specified in the notice or, if no date is specified, on the date of receipt by the Chief Executive of the notice.

(4) If the Chief Executive is satisfied that a panel member—
 * (a) has become bankrupt;
 * (b) is incapacitated by physical or mental illness;
 * (c) is otherwise unable or unfit to perform the functions of a Tribunal member; or
 * (d) has become a public officer,

the Chief Executive may declare his office as panel member to be vacant, and shall notify the fact in such manner as the Chief Executive thinks fit; and upon such declaration the office becomes vacant.