Okay kiddo, do you know what a guarantor is? It's like when someone promises to pay for something if the person who was supposed to pay can't do it.
Now, sometimes there are rules that say what people can and can't do. These rules are made by groups called "panels".
The guarantors' panel is a group of people who look at these rules and decide if they are okay or not okay under the big rules that everyone has to follow, called the constitution.
The constitution is like the boss of all the rules. So, the guarantors' panel makes sure that the rules don't break the rules from the boss.
Does that make sense, kid?