Section 8 of the Principal Act is amended as follows:

(a) by inserting in subsection (1) "or the Regulator" after "The Minister" ;

(b) by inserting in subsection (1) "or the Regulator" after "the Minister" ;

(c) by omitting subsection (2) and substituting the following subsections:

(2)  The members of a committee established under this section by the Minister are appointed and hold office on such terms and conditions as the Minister determines.

(3)  The members of a committee established under this section by the Regulator are appointed and hold office on such terms and conditions as the Regulator determines.