Section 22: Chief executive officer and other employees

22. Chief executive officer and other employees.___(1) The Board shall appoint CEO of the Fund for a term of five years renewable for other periods and he shall be deemed member of the Board. The CEO appointment, powers and financial perks thereof shall be determined by resolution by the Board. The CEO shall represent the Fund in all its relations with third parties and before courts. (2) The CEO resignation or removal from office shall be made by a Board resolution upon a report prepared by the Board and after inviting the CEO to attend the Board meeting to discuss and hearthis viewpoint in this regard. The Board shall submit its report in the following meeting of the Supervisory Council. (3) The Fund may, from time to time, induct persons to be employees of the Fund who shall be paid such remuneration and allowances and shall hold their employment on such terms and conditions as may be prescribed by regulations.

Effective date: 2023-08-04

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