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49.—(1) The Secretary of State must appoint the persons who were, immediately before this Order comes into force, the chair and other members of the Regulation Committee as the first chair and other appointed members of the Regulator, subject to their willingness to be appointed.
(2) Section 80D of the Housing and Regeneration Act 2008, inserted by Part 1, does not apply, and accordingly the Secretary of State must appoint the first chief executive of the Regulator.
(3) The Secretary of State must determine the terms of an appointment made under sub-paragraph (1) or (2).
(4) Where a person who is a member of both the Regulation Committee and the HCA is appointed by the Secretary of State as a member of the Regulator under this paragraph, that person’s membership of the HCA ceases on the date on which the appointment to the Regulator takes effect.
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