Arrangements under section 1M must include the establishment and maintenance of a panel of persons (to be known as "the FCA Practitioner Panel") to represent the interests of practitioners.
The FCA must appoint one of the members of the FCA Practitioner Panel to be its chair.
The Treasury's approval is required for the appointment or dismissal of the chair.
The FCA must appoint to the FCA Practitioner Panel such—
persons representing authorised persons, and
persons representing recognised investment exchanges,
as it considers appropriate.
The FCA may appoint to the FCA Practitioner Panel such other persons as it considers appropriate.
Subsections (4) and (5) are subject to section 1MA.