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(1) The Regulatory Authority comprises no fewer than 8 and no more than 12 members, of whom -
(a) one is the Chief Executive, and
(b) one is the Consumer Director, and
(c) no fewer than 6 and no more than 10 are persons appointed by the Minister for Finance after consulting the Minister for Enterprise, Trade and Employment.
(1A) Nothing in this Act shall be read so as to prevent any member of the Regulatory Authority from being a member of the Board.
(2) Instead of appointing a person under subsection (1) (c), the Minister may designate the holder of a specified office as an official member of the Regulatory Authority. Whoever is for the time being the holder of such an office is an official member of that Authority.
(3) A person is not eligible for appointment under subsection (1) (c) if the person -
(a) is a member of either House of the Oireachtas or is, with the person's consent, nominated as a candidate for election as such a member or is nominated as a member of Seanad Ã