(1)There shall be a tribunal, to be called the Competition Appeal Tribunal (in this Part referred to as “the Tribunal”).
(2)The Tribunal shall consist of—
(a)a person appointed by the Lord Chancellor to preside over the Tribunal (in this Part referred to as “the President”);
(b)members appointed by the Lord Chancellor to form a panel of chairmen; and
(c)members appointed by the Secretary of State to form a panel of ordinary members.
(3)The Tribunal shall have a Registrar appointed by the Secretary of State.
(4)The expenses of the Tribunal shall be paid by the Competition Service.
(5)Schedule 2 (which makes further provision about the Tribunal) has effect.