(1) The Minister shall, on the recommendation of the Council, appoint a Chief Executive of the Institute for a fixed contract period, not exceeding five years, who shall be eligible for re-appointment, as the Minister may determine.

            (2) A person shall not be appointed as Chief Executive unless he or she possesses such experience and training in such discipline as the Minister may determine, and he or she has demonstrated that he or she is competent to carry out the functions of the Institute.

            (3) The Chief Executive shall, subject to such directions on matters of policy as may be given by the Council, be responsible for the day-to-day management of the affairs of the Institute.

            (4) The Chief Executive may resign from office by giving three months notice in writing to the Minister.

            (5) The Minister may, on the recommendation of the Council, remove the Chief Executive from office by giving him or her three months notice in writing, or by paying him or her three months salary in lieu of notice.

            (6) The Chief Executive may delegate, to any senior officer of the Institute, the exercise of any powers which he or she is authorised to exercise under this Act.

27.     Appointment of staff of Institute

            (1) The Council shall, on the recommendation of the Chief Executive appoint the following executive officers-

     (a)     the Technical Director who shall be a professional accountant with at least five years of audit experience;

     (b)     the Director of Training and Professional Development who shall be a professional accountant with at least five years of experience at institutions of higher education or universities; and

     (c)     any other Directors.

            (2) The contracts of the Directors of the Institute shall not exceed a term of five years, and may be renewed at the discretion of the Council.

            (3) The Chief Executive shall appoint such other staff as may be necessary for the proper discharge of the functions of the Institute.

            (4) The terms and conditions of employment of staff of the Institute shall be as may be determined by the Council in consultation with the Minister.