s 2
(1) The constitution of the FCA must provide for the FCA to have a governing body. (2) The governing body must consist of— (a) a chair appointed by the Treasury, (b) a chief executive appointed by the Treasury, (c) the Bank's Deputy Governor for prudential regulation, (d) 2 members appointed jointly by the Secretary of State and the Treasury, and (e) at least one other member appointed by the Treasury. (3) The members referred to in sub-paragraph (2)(a), (c) and (d) are to be non-executive members. (4) In exercising its powers under sub-paragraph (2)(e) to appoint executive or non-executive members, the Treasury must secure that the majority of members of the governing body are non-executive members. (5) An employee of the FCA may not be appointed as a non-executive member. (6) In the following provisions of this Schedule an “ appointed member ” means a member of the governing body appointed under sub-paragraph (2)(a), (b), (d) or (e).