(1) There is to be a committee of the Bank known as the Financial Market Infrastructure Committee (the "FMI Committee").
(2) The FMI Committee is to consist of -
(a) a chair appointed by the Bank;
(b) at least three independent members appointed by the Bank;
(c) such other members as may be appointed from time to time by the Bank.
(3) The person appointed as chair under subsection (2)(a) must be the Governor, or a Deputy Governor, of the Bank.
(4) A person is an independent member for the purposes of subsection (2)(b) if the person is an officer, employee or agent of the Bank -
(a) as a result only of their membership of one or more of the Bank's committees, or
(b) is appointed as an independent member to the FMI Committee with the consent of the Treasury.
(5) For the purposes of subsection (4)(a) -
(a) the Bank's committees are -
(i) the FMI Committee,
(ii) the Financial Policy Committee,
(iii) the Monetary Policy Committee, and
(iv) the Prudential Regulation Committee;
(b) the refere
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