Common use of COMPOSITION OF THE BOARD OF TRUSTEES Clause in Contracts

COMPOSITION OF THE BOARD OF TRUSTEES. 1. Subject to the provisions of this Article, the Board of Trustees shall consist of the following or their nominees: (a) The Secretary-General; (b) The Vice-Chancellor of the University of the West Indies; (c) The President of the Insurance Association of the Caribbean; (d) The Chairman of the Association of Indigenous Banks of the Caribbean; (e) The President of the Caribbean Institute of Chartered Accountants; (f) The President of the Organisation of Commonwealth Caribbean Bar Associations; (g) The Chairman of the Conference of Heads of the Judiciary of Member States of the Caribbean Community; (h) The President of the Caribbean Association of Industry and Commerce; and (i) The President of the Caribbean Congress of Labour. 2. There shall be a Chairman and Vice-Chairman of the Board elected by the Board from among its members. The Chairman and Vice-Chairman shall hold office for a period of three years. 3. Where a trustee - (a) resigns or dies; (b) becomes bankrupt or otherwise insolvent; (c) becomes unwilling or refuses to serve as a trustee; (d) is convicted of an offence involving dishonesty; or (e) in the unanimous opinion of the other members of the Board, becomes unfit or incapable to act as such, the competent institution shall nominate a person of comparable status or experience to act in place of that trustee. 4. Where an institution fails to nominate a trustee in accordance with paragraph 3 or an institution mentioned in paragraph 1 ceases to exist, the Secretary-General may designate a person or persons, as the case may require, to act as a trustee. 5. Where more than three designations by the Secretary-General are required to make up the full complement of the Board of Trustees, the Members may, by consensus, propose an amendment to the Agreement in accordance with Article XIII. 6. A trustee may resign by transmitting a written notice in that behalf to the Chairman of the Board. Where the Chairman wishes to resign from the office of Chairman or Trustee, such notice shall be transmitted to the Vice-Chairman of the Board.