(1) There is to be a chief executive officer of the Regulator.
(2) The chief executive officer is to be appointed by the Board.
(3) The chief executive officer is to be appointed for a period, not more than 5 years, specified in the officer's instrument of appointment.
(4) The chief executive officer is eligible for re-appointment.
(5) The chief executive officer is taken, while holding that office, to be a member of the staff of the Regulator.