830.This paragraph requires the Lord Chancellor to select one of the members of the panel of chairmen, with qualifications as specified in paragraph 2(5), to be the President of the Tribunal.  Apart from his general responsibility for the Tribunal’s functions under paragraph 2, it is the President’s responsibility under paragraph 7 to establish standing arrangements for the selection of panel members to sit on the Tribunal to hear particular cases.  The standing arrangements must provide for the selection of at least one member of the panel of chairmen in each reference to the Tribunal, but may in addition provide for the selection other members of either panel.  The Tribunal is empowered to appoint experts to assist it where necessary under paragraph 7(4).  Paragraph 2 gives the Lord Chancellor the power to appoint a Deputy President, in addition to a President.  If appointed, the Deputy President is to have such functions in relation to the Tribunal as the President may assign to him, and he is able to exercise any function of the President where the President is absent or otherwise unable to act.
Schedule 13: the Financial Services and Markets Tribunal Paragraph 2: President