38. Section 148 of the Principal Act is amended—
(a) by inserting “other than a Chief Executive or an Executive” after “an officer” in the definition of “redundancy” in subsection (1); and
(b) by adding at the end the following subsection:
“(8) For the purposes of this Part, the engagement of a person as a Chief Executive or Executive shall be taken to have been terminated for redundancy if—
(a) the person was engaged under section 28 or 72;
(b) his or her engagement was terminated because—
(i) his or her employment was unnecessary;
(ii) the work for which he or she was engaged was finished; or
(iii) a reduction of officers was necessary because the quantity of work had diminished;
(c) the person was eligible to be re-engaged under section 28 or 72;
(d) he or she desired to be so re-engaged; and
(e) he or she was not offered a further re-engagement under either of those sections on terms and conditions that provided for remuneration at a rate equal to or greater than the rate at which remuneration was payable to him or her immediately before the termination of his or her engagement.”.