SCHEDULES
SCHEDULE 1 The Financial Services Authority
Part I General
Non-executive members of the governing body
3
(1)
The Authority must secure—
(a)
that the majority of the members of its governing body are non-executive members; and
(b)
that a committee of its governing body, consisting solely of the non-executive members, is set up and maintained for the purposes of discharging the functions conferred on the committee by this Schedule.
(2)
The members of the non-executive committee are to be appointed by the Authority.
(3)
The non-executive committee is to have a chairman appointed by the Treasury from among its members.