Part II The Scheme Operator

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[(1)]     The FCA must take such steps as are necessary to ensure that the body corporate established by the Financial Services Authority under this Schedule as originally enacted is, at all times, capable of exercising the functions conferred on the scheme operator by or under this Act.]

[(2)     The FCA must exercise any function falling within sub-paragraph (3) in a way which is consistent with enabling the scheme operator, at all times, to qualify as an ADR entity and to meet the quality requirements in Chapter II of the ADR Directive [requirements in Schedule 3 to the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015].

(3)     The following functions of the FCA fall within this sub-paragraph—

(a)     making rules for the purposes of section 226;

(b)     approving rules made for the purposes of section 227;

(c)     specifying an amount under section 229(4);

(d)     approving rules made under section 230;

(e)     taking steps under sub-paragraph (1);

(f)     appointing or removing members of the board under paragraph 3(2);

(g)     taking steps under paragraph 3A(1);

(h)     making rules under paragraph 7(3);

(i)     making rules under paragraph 13;

(j)     consenting to scheme rules under paragraph 14(7), other than rules relating to fees;

(k)     approving the fixing, variation, addition or removal of standard terms under paragraph 18, other than terms relating to the making of payments to the scheme operator; and

(l)     approving arrangements under paragraph 19(3).]

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(1)     The constitution of the scheme operator must provide for it to have—

(a)     a chairman; and

(b)     a board (which must include the chairman) whose

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