Cap. 555 Art. 3Establishment and composition of the Board of Management and Administration.

(1) There shall be established a Board, to be known as the Board of Management and Administration, which shall be responsible for the management and administration of the Office of the Arbiter for Financial Services.

(2) The Board shall be composed of three members, including the Chairperson, who shall be appointed by the Minister, a member, who shall also be appointed by the Minister, and another member who shall be appointed by the Minister responsible for Consumer Affairs.

(3) The Minister shall appoint a Chairperson who has knowledge or experience of consumer issues relating to the provision of financial services.

(4) The Minister shall select the members of the Board from among persons who appear to him to be qualified to be so selected.

(5) The members of the Board shall exercise their functions under this Act in their individual judgement and they shall not be subject to the direction or control of any other person or authority in the exercise of such functions.