The Governor, the Head of Financial Regulation and the Bank may, at their discretion and subject to subsection (4), appoint suitably qualified persons (including persons who are not officers or employees of the Bank) to perform functions of the Governor, the Head of Financial Regulation or the Bank under this Part where necessary or appropriate to ensure those functions are performed efficiently and effectively. The Bank may not appoint persons to perform functions of making regulations or issuing codes. The power to appoint expressly includes authority to appoint persons to form opinions required by this Part, to make applications to the Court and to certify matters to the Court.

Subsection (4) mandates that appointments be made so as to secure separation of roles: the person who forms the opinion under section 25(1) must not conduct the Chapter 3 investigation arising from that opinion; any person who performed a function under section 26 in relation to a suspension notice must not perform functions under section 29(1) to (3) in relation to that notice; and any person involved in the investigation referenced in subsection (3)(a) of section 43 must not perform functions under section 43 in connection with imposing a prohibition in those circumstances. Paragraph (a) of subsection (4) does not prevent the opinion‑forming person from exercising management, advice or other functions that do not affect the independence of the investigation.