3(1)A corporation shall consist of—E+W
(a)not less than twelve and not more than twenty-four members appointed in accordance with the following provisions of this Schedule; and
(b)the person who is for the time being the principal of the institution, unless he chooses not to be a member.
(2)Of the appointed members—
(a)up to thirteen (referred to below in this Schedule as the independent members) shall be persons appearing to the appointing authority to have experience of, and to have shown capacity in, industrial, commercial or employment matters or the practice of any profession;
(b)not less than four and not more than eight (referred to below in this Schedule as the initial nominee members) shall be persons nominated in accordance with this Schedule otherwise than by other members of the corporation;
(c)at least one and not more than four (referred to below in this Schedule as the additional nominee members) shall be persons nominated in accordance with this Schedule by the members of the corporation who are either independent members or initial nominee members and the principal of the institution (if he is a member).
(3)The members of the corporation for the time being shall be known as the board of governors of the institution.