Clause 13

by deleting the words “Public Trustee” in subsection (1);

by deleting subsections (2) and (3) and substituting the following subsections:“(2) The members of the Board are —

a Permanent Secretary to the Ministry of Law, as chairman;

the Public Trustee; and

3 other persons to be appointed from time to time by the Minister, of whom at least one must be a public officer (called appointed members).(2A) The appointed members of the Board hold office for such period and on such terms and conditions as the Minister may determine.(2B) Any appointed member of the Board may resign by giving notice in writing to the Minister.(2C) The Minister may at any time revoke the appointment of any appointed member of the Board.(2D) If an appointed member of the Board dies, resigns, has his appointment revoked by the Minister under subsection (2C) or otherwise vacates his office before the expiry of the term of his appointment, the Minister may appoint any other person to fill the vacancy for so long as the member in whose place that person is appointed would have held office.(3) The chairman and 2 other members of the Board form a quorum.”; and

by deleting the marginal note and inserting the following section heading:“Constitution of Investment Board”.