5(1)The Chancellor of the Exchequer may terminate the appointment of a member of the OTS by giving the member written notice.U.K.
(2)In the case of a member appointed for the purposes of paragraph 1(2)(a) or (b) or (3), the Chancellor of the Exchequer may only terminate the appointment if—
(a)the member has been absent from meetings of the OTS without the OTS's permission for a period of more than 3 months,
(b)the member becomes bankrupt (see sub-paragraph (3)),
(c)the member has failed to comply with the terms of the appointment, or
(d)the member is, in the opinion of the Chancellor of the Exchequer, unable, unfit or unwilling to carry out the member's functions.
(3)A member becomes bankrupt if—
(a)in England and Wales or Northern Ireland, a bankruptcy order is made in relation to the member;
(b)in Scotland, the member's estate is sequestrated.
Commencement Information
I1Sch. 25 para. 5 in force at 28.11.2016 by S.I. 2016/1133, reg. 2