Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The proposed heads of the Bill provide:

The Council is to consist of a maximum of 7 persons, one of whom is the Chairperson. At least two members must have knowledge or experience of consumer protection and other consumer issues relating to the provision of financial services; at least one member must have knowledge or experience of the financial services industry; and at least one member must have knowledge or experience in relation to the pensions industry.

One relates to financial services, one to pensions and two to consumer issues. Then the other three are open. However, that does not mean that one need only have two people with consumer related experience. There can be more than two, but there must be a minimum of two.