§ Article 201(untitled)

Chairperson and the Board of the Central Bank

1. The Board of the Central Bank shall be composed of the Chairperson of the

Central Bank, two deputies thereof and five members. The Chairperson of the Central

Bank shall be elected by the National Assembly, upon recommendation of the

competent standing committee of the National Assembly, by at least three fifths of

 88
votes of the total number of Deputies, for a term of six years. The same person may

not be elected as Chairperson of the Central Bank for more than two consecutive

terms. The other members of the Board of the Central Bank shall be elected by the

National Assembly, upon recommendation of the competent standing committee of the

National Assembly, by majority of votes of the total number of Deputies, for a term of

six years.

2. Everyone with higher education and complying with the requirements set forth for

a Deputy may be elected as a member of the Board of the Central Bank. The law may

prescribe additional requirements to the members of the Board of the Central Bank.

3. The incompatibility requirements prescribed for a Deputy shall extend to the

Chairperson of the Central Bank and other members of the Board. The Chairperson

of the Central Bank and other members of the Board shall be entitled to hold

positions, by virtue of their status, in commercial organisations and foundations.

4. Members of the Board of the Central Bank may not, during their terms of office,

hold membership in any political party or otherwise engage in political activities. They

must show political restraint in public speeches.

5. In case of violation of any of the conditions referred to in parts 3 and 4 of this

Article, the powers of the Chairperson of the Central Bank shall be terminated by the

National Assembly, by at least three fifths of votes of the total number of Deputies,

whereas those of the other members — by majority of votes of the total number of

Deputies.

6. The powers of the Chairperson of the Central Bank, deputy chairpersons and

members of the Board shall be prescribed by law.

 89
 CHAPTER 15

 ADOPTION OF AND AMENDMENT TO THE CONSTITUTION,
 AND REFERENDUM