Section 5

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

The Board may, subject to such conditions or restrictions as it thinks fit, delegate to any such committee or the Chairman any of the powers, functions and duties by this Act vested in the Board, and any power, function or duty as delegated may be exercised or performed by the committee or the Chairman, as the case may be, in the name and on behalf of the Board.

The Board may, subject to such conditions or restrictions as it thinks fit, delegate to any employee thereof all or any of the Board’s functions and duties by this Act vested in the Board, and any power, function or duty as delegated may be exercised or performed by the employee in the name and on behalf of the Board.

The Board 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.