3(1)The Treasury may, after consultation with the [F1Authority], by order increase or, subject to section 2(2) of this Act, reduce the number of ex officio or independent members of the Board, provided always that there shall be a majority of independent members on the Board.
(2)Any order under this paragraph shall be subject to annulment in pursuance of a resolution of either House of Parliament.
Textual Amendments
F1Word in Sch. 1 para. 3 substituted (1.6.1998) by 1998 c. 11, s. 28(3); S.I. 1998/1120, art. 2