Section 308: Removal of appointees.

(1) The Commission may by notice require a capital market operator to terminate the appointment of a director or officer of that capital market operator, if the director or officer is no longer a fit and proper person to hold the office in question.
(2) When the Commission intends to act as in subsection (1) of this section, the Commission shall give notice to the capital market operator, and, unless it is impracticable to do so, the director or officer concerned, of the Commission's intention and the reasons therefor, and the director or officer shall thereupon cease to perform the functions of the office in question pending the final outcome of any appeal (if any) to the Tribunal under the provisions of this Act.