SCHEDULES
C1SCHEDULE 4 The Deposit Protection Board
Constitution
1
1
The Board shall consist of three ex officio members, namely—
F2a
the Chairman of the Authority, who shall chair the Board;
b
the holder of such other office within the Authority as the Chairman of the Authority may designate for the purposes of this provision; and
c
the Deputy Governor of the Bank of England responsible for financial stability;
and such ordinary members as shall from time to time be appointed under sub-paragraph (2) below.
F32
The Chairman of the Authority shall appoint as ordinary members of the Board—
a
three persons who are directors, controllers or managers of contributory institutions; and
b
persons who are officers or employees of the Authority.
F43
An ex officio member of the Board may appoint an alternate member to perform his duties as a member in his absence as follows—
a
the Chairman of the Authority or the holder of a designated office within the Authority may appoint an officer or employee of the Authority, and
b
the Deputy Governor of the Bank of England may appoint an officer or employee of the Bank.
4
Each ordinary member of the Board may appoint an appropriately qualified person as an alternate member to perform his duties as a member in his absence; and for this purpose a person is appropriately qualified for appointment as an alternate—
a
by a member appointed under paragraph (a) of sub-paragraph (2) above, if he is a director, controller or manager of a contributory institution; and
b
by a member appointed under paragraph (b) of that sub-paragraph, if he is either an officer or an employee of the F5Authority.
5
Ordinary and alternate members of the Board shall hold and vacate office in accordance with the terms of their appointment.
Sch. 4: power to apply conferred (9.6.1997) by 1997 c. 32, s. 32(2); S.I. 1997/1427, art. 2(g)
Sch. 4: power to repeal conferred (9.6.1997) by 1997 c. 32, s. 32(5)(a); S.I. 1997/1427, art. 2(g)