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Paragraph 4 Co-option of members and determination of membership of Corporation as finally constituted

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Following the appointment by the Secretary of State of the first members of the Corporation under clause 3, the Corporation shall take the following steps, namely—

(a)

make a determination at their first meeting fixing the total membership of the Corporation as finally constituted, and the number of members of each variable category of which the Corporation as so constituted are to consist, subject to the limits referred to in clause 2;

(b)

appoint the co-opted members; and

(c)

make such other appointments as are required to be made by them under clause 5 in consequence of their determination under sub-paragraph (a) above.

(2)

A determination under this clause shall not have effect so as to terminate the appointment of any person who is already a member of the Corporation at the time when it takes effect.

(3)

A determination under this clause may be varied by a subsequent determination.

(4)

Where any appointment of a member (other than a first co-opted member) falls to be made in consequence of a determination in accordance with this clause, it shall not be made until after the appointment of the first co-opted members pursuant to paragraph (1)(b) above.

(5)

In determining the number of members to appoint within each variable category the Corporation shall secure that at least half of all the members of the Corporation as finally constituted are business members.