4(1)The Council shall prepare a scheme making provision as to—
(a)the election or nomination of persons for the purposes of paragraphs (a) and (b) of paragraph 2(1);
(b)the election of a person as chairman under paragraph 2(2); and
(c)the tenure and vacation of office of persons elected or nominated as aforesaid, and the eligibility of persons for election or nomination.
(2)A scheme under this paragraph shall secure that (except during any casual vacancy)—
(a)the total number of persons elected or nominated for the purposes of paragraph (a) of paragraph 2(1) exceeds by one the total number of persons elected or nominated for the purposes of paragraph (b) of that provision; and
(b)the persons elected or nominated for the purposes of the said paragraph (b) include at least two persons who represent the interests of consumers.
(3)A scheme under this paragraph shall not come into force until it has been approved by the Lord Chancellor; and the first scheme under this paragraph shall be submitted to the Lord Chancellor for approval before the end of the period of two years beginning with the establishment of the Council.
(4)The Lord Chancellor may approve a scheme under this paragraph either as submitted to him or subject to such modifications as he thinks fit; but where the Lord Chancellor proposes to approve a scheme subject to modifications he shall notify the modifications to the Council and consider any observations of the Council on them.
(5)A scheme under this paragraph may be varied or revoked by any subsequent such scheme.