Section 8

The Corporation may, in its discretion, appoint from among its own members or other persons who are not members of the Corporation such number of committees as it thinks fit consisting of members or other persons or members and other persons for purposes which, in the opinion of the Corporation, would be better regulated and managed by means of those committees.

The Corporation may, subject to such conditions or restrictions as it thinks fit, delegate to any such committee or the Chairman all or any of the powers, functions and duties by this Act vested in the Corporation, except the power to borrow money or to raise loans by the issue of bonds and debentures; and any power, function or duty so delegated may be exercised or performed by that committee or the Chairman in the name and on behalf of the Corporation.

The Corporation may, subject to such conditions or restrictions as it thinks fit, delegate to any employee thereof all or any of the powers, functions and duties by this Act vested in the Corporation, except the power to borrow money or to raise loans; and any power, function or duty so delegated may be exercised or performed by the employee in the name and on behalf of the Corporation.

The Corporation may continue to exercise any power conferred upon it, or perform any function or duty under this Act, notwithstanding the delegation of such power, function or duty under this section.