3(1)The [F1Treasury] shall appoint one of the members of the Board to be the chairman of the Board.
(2)If the chairman ceases to be a member of the Board he shall cease to be the chairman.
Textual Amendments
F1Word in Sch. 1 para. 3 (1) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1), 8(1), Sch. Pt. II paras. 98, 99 (with art. 7)