Sri Lanka Consolidated Acts

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Regulation Of Insurance Industry Act (No. 43 of 2000) - Sect 9

Director-General

9.
(1) The Minister shall, in consultation with the Board, appoint a Director-General of the Board, who shall be its chief executive officer The conditions of employment including remuneration of the Director-General, shall be determined by the Minister.
(2) The Director-General shall attend meetings of the Board on being invited to do so by the Board, but shall not be entitled to vote at such meetings.
(3) The Director-General shall, subject to the general direction and control of the Board, be charged with the direction of the affairs and transaction of all the business of the Board in the exercise, discharge and performance of its powers, functions and duties, and the administration and control of the officers and servants of the Board.
(4) The Director-General may, with the approval of the Board, whenever he considers it necessary to do so, delegate to any officer or servant of the Board any power, function or duty conferred or imposed on or assigned to him by this Act. and such officer or servant shall exercise, discharge and perform such power, function or duty subject to the general or special directions of the Director-General.
(5) The Minister may on the recommendation of the Board, remove from office the Director-General appointed under subsection (1). for reasons assigned therefor.


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