Section 15: Tenure of office and declaration of assets

15. Tenure of office and declaration of assets (1) (a) Subject to paragraph (b), the Governor and the Deputy Governors shall be appointed on such terms and conditions as may be specified in the instrument of appointment. B2 – 11 [Issue 1] Bank of Mauritius Act (b) The Governor and Deputy Governors shall hold office for a term not exceeding 5 years and shall be eligible for reappointment. (2) The Governor or the Deputy Governors shall not, during their tenure of office, hold any other office, whether remunerated or not, except with the consent of the President or as may be expressly provided in any enactment. (3) Notwithstanding subsection (2), the Governor or any Deputy Governor may be appointed— (a) member of any commission established by or with the approval of Government to enquire into any matter affecting banking and financial matters in Mauritius; or (b) Governor, director or member of a board or committee, by whatever name called, of any international authority to which the Bank or Mauritius is a member or party. (4) A declaration of assets, in the form specified in the First Schedule, shall, within 30 days of his appointment or of the coming into operation of this Act, be deposited by the Governor with the Minister in respect of himself, his spouse, his minor children and grandchildren and, subject to subsection (5), children of age. (5) The declaration shall, in relation to children of age, specify any property sold, transferred or donated to each one of them in any form or manner whatsoever, including income or benefits from any account, partnership or trust. (6) The Governor shall make a fresh declaration of assets by means of an affidavit every 2 years and at the expiry or termination of his employment on any ground. (7) Subsections (4) and (6) shall apply to every Deputy Governor in the same manner as they apply to the Governor.