Version Superseded: 24/01/2013
Point in time view as at 01/04/2002.
Financial Services and Markets Act 2000, Cross Heading: Non-executive members of the governing body is up to date with all changes known to be in force on or before 11 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
3(1)The Authority must secure—U.K.
(a)that the majority of the members of its governing body are non-executive members; and
(b)that a committee of its governing body, consisting solely of the non-executive members, is set up and maintained for the purposes of discharging the functions conferred on the committee by this Schedule.
(2)The members of the non-executive committee are to be appointed by the Authority.
(3)The non-executive committee is to have a chairman appointed by the Treasury from among its members.
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