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(1) The Investment Advisory Committee compromises seven members, at least one of whom is a woman, who shall be persons of proven Competence in finance, investment, economics, business management or law or similar disciplines.

(2) A person is not qualified to be a member of the Investment Advisory Committee if that person

(a) is not a citizen;

(b) has been convicted of a felony or an offence involving dishonesty;

(c) is adjudged to be a person of unsound mind;

(d) In the case of a person in possession of a professional qualification is disqualified or suspended from practicing the profession of that person by order of a competent authority made in respect of that person. 

(3) The minister in consultation with the Governor shall nominate the members of the investment Advisory Committee for appointment by the President.

(4) The President shall appoint the chairperson of the Investment Advisory Committee.