{
  "url": "https://openlegislation.uk/financial-services-banking-reform-act-2013/schedule-4/paragraph-2",
  "json_url": "https://openlegislation.uk/financial-services-banking-reform-act-2013/schedule-4/paragraph-2.json",
  "legislation": "ukpga/2013/33",
  "legislation_title": "Financial Services (Banking Reform) Act 2013",
  "legislation_url": "https://openlegislation.uk/financial-services-banking-reform-act-2013",
  "path": "schedule/4/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": null,
  "text": "(1) The constitution of the Regulator must provide for it to have a board whose members are the directors of the Regulator.\n(2) The board is to consist of the following members—\n(a) a member to chair it, appointed by the FCA with the approval of the Treasury;\n(b) a member to be the Managing Director, appointed by the FCA with the approval of the Treasury;\n(c) one or more other members appointed by the FCA.\n(3) The persons who may be appointed under sub-paragraph (2) include persons who are members of the FCA's governing body.\n(4) A person may be appointed under sub-paragraph (2) only if the person has knowledge or experience which is likely to be relevant to the exercise by the Regulator of its functions.\n(5) A person appointed under sub-paragraph (2)(a) or (b) is liable to removal from office by the FCA (acting with the approval of the Treasury).\n(6) A person appointed under sub-paragraph (2)(c) is liable to removal from office by the FCA.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 4 para. 2 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2013/33/schedule/4/paragraph/2",
    "retrieved_at": "2026-10-29T09:07:58.389751+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}