# Financial Services and Markets Act 2000, Paragraph 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,
(ca) the Chair of the Payment Systems Regulator,
(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) , (ca) 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).

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Source: https://www.legislation.gov.uk/ukpga/2000/8/schedule/1ZA/paragraph/2 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/schedule-1ZA/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.