6. Appointment of sub-committees by Oversight Committee

Subject to any general or special direction of the Authority, the Oversight Committee may appoint one or more sub‑committees for any general or special purpose which in the opinion of the Oversight Committee may be better dealt with or managed by a sub‑committee.

The Oversight Committee may delegate to any sub‑committee appointed under subsection (1), with or without restrictions or conditions as it thinks fit, any of the powers or functions which may be exercised or performed by the Oversight Committee under this Act.

The number and term of office of the members of any sub‑committee appointed under this section and the number of those members necessary to form a quorum is to be determined by the Oversight Committee.

A sub-committee appointed under this section may include persons who are not members of the Oversight Committee.

The Oversight Committee may continue to exercise any power conferred upon it or perform any function under this Act despite the delegation of such power or function to a sub‑committee under this section.

For the purposes of the Accounting and Corporate Regulatory Authority Act 2004, any member of a sub‑committee appointed by the Oversight Committee under or for the purposes of this Act is deemed to be a member of a committee of the Authority.