Section 15

Status

1

(1) The IMA is not to be regarded -

(a) as the servant or agent of the Crown, or

(b) as enjoying any status, immunity or privilege of the Crown.

(2) The IMA’s property is not to be regarded -

(a) as the property of the Crown, or

(b) as property held on behalf of the Crown.

Membership

2

(1) The IMA is to consist of the following members -

(a) a chair (who is to be a non-executive member),

(b) at least 2 but not more than 6 other non-executive members,

(c) the chief executive (who is to be an executive member), and

(d) at least 1 but not more than 3 other executive members.

(2) The Secretary of State is to appoint the non-executive members.

(3) The non-executive members are to appoint the executive members (subject to paragraph 3).