# Policyholders Protection Act 1975 (repealed), Paragraph 1

Extent: E+W+S+N.I.

(1) The Board shall consist of five persons appointed by the Treasury to be members of the Board, together with any persons appointed by the Treasury under sub-paragraph (3) below to be alternate members.
(2) Of the persons appointed to be members of the Board—
(a) at least three shall be persons who are directors, chief executives or managers of authorised insurance companies; and
(b) at least one shall be a person appearing to the Treasury to be qualified to represent the interests of policyholders of authorised insurance companies.
(3) The Treasury may appoint, in respect of each member of the Board, a person to perform his duties as a member in his absence, and a person so appointed shall be an alternate member of the Board and may take part in the proceedings of the Board in the absence of the member in respect of whom he was appointed or as provided by paragraph 4(4) below (but not otherwise).
(4) A person appointed as an alternate member of the Board in respect of a person who is a director, chief executive or manager of an authorised insurance company shall himself be such a director, chief executive or manager; and a person so appointed in respect of any such person as is mentioned in sub-paragraph (2)(b) above shall himself be a person appearing to the Treasury to be qualified as there mentioned.
(5) The Treasury shall consult persons appearing to themto be representative of the interests of authorised insurance companies before appointing a person who is a director, chief executive or manager of an authorised insurance company to be a member or alternate member of the Board.

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Source: https://www.legislation.gov.uk/ukpga/1975/75/schedule/1/paragraph/1 (the official version)
Page: https://openlegislation.uk/policyholders-protection-act-1975-repealed/schedule-1/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.