Determination of Membership Numbers
4.—(1) At its first meeting the Corporation shall make a determination with respect to its membership numbers, which shall be not less than 12 but not more than 20 other than LSC members.
(2) Such a determination shall fix the numbers of members of each variable category of which the Corporation is to consist, subject to the limit which applies to each category set out in clause 2.
(3) In making such a determination, the Corporation shall secure that the number of business members of the Corporation, when constituted in accordance with that determination, shall be equal to one third of the total number of members other than LSC members rounded up to the nearest whole number.
(4) Such a determination shall not have effect so as to terminate the appointment of any person who is already a member of the Corporation at the time when it takes effect.
(5) Such a determination may be varied by a subsequent determination, to which paragraphs (1) to (4) shall apply.