(1) The Minister may appoint a person as a member of the Commission if and only if the Minister is of the opinion that the person has relevant knowledge of -
(a) accountancy,
(b) actuarial science,
(c) banking,
(d) consumer interests,
(e) corporate governance,
(f) economics,
(g) financial control,
(h) financial regulation,
(j) insurance,
(l) social policy, or
(m) systems control.
(2) A person is not eligible for appointment as a member of the Commission if he or she -
(a) is a member of either House of the Oireachtas,
(b) is, with his or her consent, nominated as a candidate for election as such a member or is nominated as a member of Seanad Éireann,
(c) is a member of the European Parliament or is, with his or her consent, nominated as a candidate for election as such a member or to fill a vacancy in the membership of that Parliament,
(d) is a member of a local authority or is, with his or her consent, nominated as a candidate for election as such
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