The regulator is to consist of—
a person appointed by the Secretary of State as chair ("the chair"),
at least 6 and no more than 10 other members, appointed by the Secretary of State, and
the chief executive appointed under section 80D(1).
The Secretary of State must consult the chair before appointing a member under subsection (1)(b).
In appointing a person to be an appointed member the Secretary of State must—
have regard to the desirability of appointing a person who has experience of, and has shown some capacity in, matters relevant to the exercise of the functions of the regulator, and
be satisfied that the person has no financial or other interest likely to affect prejudicially the exercise of the person's functions as a member.
The Secretary of State may require any person who the Secretary of State proposes to appoint as an appointed member to provide any information the Secretary of State considers necessary for the purposes of subsection (3)(b).
In this Part "appointed member" means—
the chair, or
a member appointed under subsection (1)(b).