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← Monetary Authority of Singapore Act 1970

Monetary Authority of Singapore Act 1970 s 8

s 8 Appointment of directors

8.—(1) The directors referred to in section 7(3)(b) are to be appointed by the President who, on the recommendation of the Minister, is also to appoint the deputy chairperson. (2) The directors so appointed —(a) must not act as delegates on the board from any commercial, financial, agricultural, industrial or other interests with which they may be connected; (b) hold office for a term not exceeding 3 years and are eligible for re‑appointment; and (c) may be paid by the Authority out of the funds of the Authority such remuneration and allowances as may be determined by the President. (3) Subsection (2)(b) and (c) does not apply to a director who is appointed managing director under section 9.

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Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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