(1) The Minister shall appoint either a Board or an educational institution to supervise and administer the examinations referred to in Part 5 of the Act.
(2) The Board shall consist of not less than 3 and not more than 6 members, one of whom shall be the Registrar or his or her nominee.
(3) The other members of the Board shall include persons nominated by insurance associations or organisations recognised as such by the Minister.
(4) Members of the Board shall be appointed for a period of 2 years and shall be eligible for reappointment.
(5) An approved educational institution shall be appointed for a period of 3 years in the first instance and shall be eligible for reappointment for further periods of not less than 12 months duration.