7(1)The executive members are to be employees of the single financial guidance body.
(2)Executive members appointed under paragraph 6(1) are to be employed by the single financial guidance body on such terms and conditions, including those as to remuneration, as the Secretary of State may determine.
(3)Executive members appointed under paragraph 6(2) are to be employed by the single financial guidance body on such terms and conditions, including those as to remuneration, as the body may determine, with the approval of the Secretary of State.
(4)The single financial guidance body must—
(a)pay to or in respect of the executive members such pensions, allowances and gratuities, or
(b)provide and maintain for them such pension schemes (whether contributory or not),
as the body may determine, with the approval of the Secretary of State.