(1) The Consultative Industry Panel is to consist of not fewer than 5, and not more than 20, members.
(2) The members of the Consultative Industry Panel are to be appointed by the Minister for Finance after consulting the Taoiseach, the Minister for Enterprise, Trade and Employment and those organisations that, in the opinion of the Minister for Finance, represent the interests of financial service providers.
(3) In appointing persons as members to the Consultative Industry Panel, the Minister shall ensure as far as possible that those persons have knowledge or experience of the financial services industry.
(4) A person is not eligible to be appointed as a member of the Consultative Industry 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 memb