s 59 Appointment of board of directors
59.—(1) This section has effect despite any provision in the Companies Act 1967 and the constitution of the Agency.[31/2018] (2) The board of directors of the Agency consists of —(a) a Chairperson who must be appointed by the board of directors; and (b) not less than 4 but not more than 9 other directors. (3) A director holds office for a term not exceeding 3 years and is eligible for re‑appointment. (4) No person may be appointed as or remain a director on the board of directors if the person is a substantial shareholder, a director or an employee of —(a) any DI Scheme member or PPF Scheme member; or (b) a related corporation of any DI Scheme member or PPF Scheme member. (5) In this section —“related corporation” has the meaning given by section 4(1) of the Companies Act 1967; “substantial shareholder” has the meaning given by section 81 of the Companies Act 1967.