1. The Board shall be composed of:

(a) the Chair appointed in accordance with Article 56;

(b) four further full-time members appointed in accordance with Article 56;

(c) a member appointed by each participating Member State, representing their national resolution authorities.

2. Each member, including the Chair, shall have one vote.

3. The Commission and the ECB shall each designate a representative entitled to participate in the meetings of executive sessions and plenary sessions as a permanent observer.

The representatives of the Commission and the ECB shall be entitled to participate in the debates and shall have access to all documents.

4. In the event of more than one national resolution authority in a participating Member State, a second representative shall be allowed to participate as observer without voting rights.

5. The Board's administrative and management structure shall comprise:

(a) a plenary session of the Board, which shall perform the tasks referred to in Article 50;

(b) an executive session of the Board, which shall perform the tasks referred to in Article 54;