212 The scheme manager
212 The scheme manager

[(1)     “The scheme manager” means the body corporate established by the Financial Services Authority under this section as originally enacted.

(2)     The regulators must take such steps as are necessary to ensure that the scheme manager is, at all times, capable of exercising the functions conferred on it by or under this Part or Part 15A.]

(3)     The constitution of the scheme manager must provide for it to have—

(a)     a chairman; . . .

[(aa)     a chief executive (who is to be the accounting officer); and]

(b)     a board (which must include the chairman [and chief executive]) whose members are the scheme manager's directors.

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