Notices of vacancies and appointments of certain Directors.
28.—(1) This section applies only to Directors who are neither banking Directors nor service Directors.
(2) Not less than ten days before the expiration by effluxion of time of the term of office of a Director to whom this section applies the Board shall notify the Minister of such prospective vacancy.
(3) As soon as may be after the Board becomes aware that the office of a Director to whom this section applies has become vacant otherwise than by effluxion of time, the Board shall notify the Minister of such vacancy.
(4) Whenever the Minister appoints a person to be a Director to whom this section applies he shall cause notice of such appointment having been made and of the name and other particulars of the person appointed to be given forthwith to the Board.
(5) Whenever a Director to whom this section applies ceases by any means to hold office as such Director and the Minister determines to reduce the number of such Directors and for that purpose not to fill the vacancy occasioned by such cesser, such cesser shall for the purposes of this Act (except this section) be deemed not to have occasioned a vacancy in the membership of the Board.
(6) Whenever the Minister, for the purpose of reducing the number of Directors to whom this section applies, determines not to fill a vacancy which has occurred amongst those Directors, he shall cause the Board to be informed of such determination.