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Article (11): Members Appointment

Fed Law 14/2018 Issued on 1/10/2018

1) Members of the Board of Directors shall be appointed by a federal decree based on recommendation of the Cabinet, and shall serve for a four (4) year term renewable for similar periods. The Decree designates from among the members of the Board of Directors one or more deputy chairman.
2) The Chairman, his Deputies and the Governor, shall each have the rank of Minister.
3) The Chairman issues a decision defining the powers of his Deputies.
4) Subject to item three (3) of this article, should the Chairman be absent or his post became vacant, the Deputy Chairman shall replace him; and should both the Chairman and his Deputies be absent or their posts became vacant, the Governor shall replace them both.

This article has been amended by Decretal Federal Law No. (02) of 2021. You are viewing the latest version. To view the previous version, click the version box below.
Version 1(effective from 31/10/2018 to 08/03/2021)

 

1) Members of the Board of Directors shall be appointed by a federal decree based on recommendation of the Cabinet, and shall serve for a four (4) year term renewable to similar periods.

2) The Chairman, the Deputy Chairman and the Governor, shall each have the rank of Minister. Should the Chairman be absent or his post became vacant, the Deputy Chairman shall replace him; and should both the Chairman and his Deputy be absent or their posts became vacant, the Governor shall replace them both