(1) The Consultative Consumer Panel is to consist of not fewer than 5, and not more than 20, members.
(2) The members of the Consultative Consumer Panel are to be appointed by the Minister for Finance after consulting the Minister for Enterprise, Trade and Employment and those organisations that, in the opinion of the Minister for Finance, represent the interests of consumers.
(3) In appointing persons as members to the Consultative Consumer Panel, the Minister shall ensure as far as possible that those persons have knowledge or experience of or as consumers of financial services.
(4) A person is not eligible to be appointed as a member of the Consultative Consumer Panel 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
(b) is a member of the European Parliament or is, with the person's consent, nominated as a candidate for election as such a member or to fill a vacancy in