1The Commission shall be a body corporate, with a common seal and power to hold land without licence in mortmain.
2The functions of the Commission and of its officers and servants shall be deemed to be exercised on behalf of the Crown.
3Every member of the Commission shall hold and vacate office in accordance with the terms of the instrument under which he is appointed; but notwithstanding anything in such an instrument, any member of the Commission may resign his office by a notice given under his hand to the Ministers, and a member of the Commission who ceases to hold office shall be eligible for re-appointment to the Commission :
Provided that a person shall not hold office as a member of the Commission for more than five years under any one appointment.
4A person shall be disqualified for membership of the Commission, if and so long as he is a member of the Commons House of Parliament.
5It shall be the duty of the Ministers to satisfy themselves, with respect to any person whom they propose to appoint to be a member of the Commission, that that person will have no such financial or commercial interest as is likely to affect him in the discharge of his functions as a Commissioner, and also to satisfy themselves from time to time, with respect to any person who is a member of the Commission, that he has no such interest as aforesaid; and any such person shall, whenever requested by the Ministers so to do, furnish to them such information as they consider necessary for the performance of their duty under this paragraph.