[(1) Arrangements under section 1M must include the establishment and maintenance of a panel of persons (to be known as “the Markets Practitioner Panel”) to represent the interests of practitioners who are likely to be affected by the exercise by the FCA of its functions relating to markets, including its functions under Parts 6, 8A and 18.
(2) The FCA must appoint one of the members of the Markets Practitioner Panel to be its chair.
(3) The Treasury's approval is required for the appointment or dismissal of the chair.
(4) The FCA must appoint to the Markets Practitioner Panel such persons to represent the interests of persons within subsection (5) as it considers appropriate.
(5) The persons within this subsection are—
(a) authorised persons,
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