(1)The Lord Chancellor may appoint such number of persons as he thinks fit to be wreck commissioners and may remove any wreck commissioners appointed by him.
(2)A wreck commissioner shall vacate his office on the day on which he attains the age of seventy years; but this subsection is subject to section 26(4) to (6) of the M1Judicial Pensions and Retirement Act 1993 (power to authorise continuance in office up to the age of seventy-five years).
(3)Before appointing a person to act as wreck commissioner in Northern Ireland the Lord Chancellor shall consult the Chief Justice of Northern Ireland.
(4)There shall be paid to any wreck commissioner such remuneration, out of money provided by Parliament, as the Lord Chancellor may with the consent of the Treasury determine.
(5)There shall be paid to any assessor appointed under this Act such remuneration, out of money provided by Parliament, as the Lord Chancellor may with the consent of the Treasury determine.