for election. He or she must have for a period of not less than three years held office — as Minister, Chief Justice, Speaker, Attorney-General, Chairman of the Public Service Commission, Auditor-General, Accountant-General or Permanent Secretary; as chief executive officer (CEO) of a key statutory board or government company: the Central Provident Fund Board, the Housing and Development Board, the Jurong Town Corporation, the Monetary Authority of Singapore, Temasek Holdings, or GIC Private Limited (formerly known as the Government of Singapore Investment Corporation); as CEO of a company with an average of $500 million in shareholders' equity for the most recent three years in that office, and which is profitable after taxes; or in any other similar or comparable position of seniority and responsibility in any other organisation or department of equivalent size or complexity in the public or private sector which has given him or her such experience and ability in administering and managing financial affairs as to enable him or her to carry out effectively the functions and duties of the office of President. The president now exercises powers over the following: appointment of public officers government budgets examine government's exercise of its powers under the Internal Security Act examine government's exercise of its powers under religious harmony laws investigate cases of corruption However, the president must consult the Council of Presidential Advisers before he or she takes a decision on some of these matters. The council comprises: two members appointed at the personal discretion of the president two members appointed by the president on the advice of the prime minister one member appointed by the president on the advice of the chief justice one member appointed by the president on the advice of the chairman of the Public Service Commission A member of the council serves a six-year term and is eligible for re-appointment for further terms of four years each. Similar to the Speech from the Throne given by the heads of state in other parliamentary systems, the president delivers an address written by the government at the opening of parliament about what kind of policies to expect in the coming year. The current president is Halimah Yacob. Cabinet The cabinet forms the executive of the government and it is answerable to parliament. It consist of sitting members of parliament and is headed by a prime minister, the head of government. The current prime minister is