(1)Arrangements under section 8 must include the establishment and maintenance of a panel of persons (to be known as “the Practitioner Panel”) to represent the interests of practitioners.
(2)The Authority must appoint one of the members of the Practitioner Panel to be its chairman.
(3)The Treasury’s approval is required for the appointment or dismissal of the chairman.
(4)The Authority must have regard to any representations made to it by the Practitioner Panel.
(5)The Authority must appoint to the Practitioner Panel such—
(a)individuals who are authorised persons,
(b)persons representing authorised persons,
(c)persons representing recognised investment exchanges, and
(d)persons representing recognised clearing houses,
as it considers appropriate.