(1)The Secretary of State may by order make provision for the establishment of a body corporate to be known as the Schools Funding Council for Wales to exercise in relation to Wales, as from such date as may be specified in the order, the functions conferred on them.
(2)The council shall consist of not less than eight nor more than 12 members appointed by the Secretary of State, one of whom shall be so appointed as chairman.
(3)In appointing the members of the council the Secretary of State shall have regard to the desirability of including—
(a)persons who appear to him to have experience of, and to have shown capacity in, the provision of primary or secondary education or to have held, and to have shown capacity in, any position carrying responsibility for the provision of such education;
(b)persons who appear to him to have experience of, and to have shown capacity in, industrial, commercial or financial matters or the practice of any profession; and
(c)persons who appear to him to have experience of, and to have shown capacity in, providing for children with special educational needs.
(4)Schedule 2 has effect in relation to the council.