Section 80

The committee of a securities exchange may appoint a management sub-committee of not less than 3 and not more than 5 persons, at least one of whom is a member of the committee.

The committee of a securities exchange may by resolution delegate to a sub-committee appointed by it under this section all or any of its powers, authorities and discretions under this Part (other than those under this section, sections 83 and 86(3), (4) and (5)).

Any power, authority or discretion so delegated may be exercised by members forming a majority of the sub-committee as if by this Part that power, authority or discretion had been conferred on a majority of the members of the sub-committee.

Any such delegation may at any time in like manner be rescinded or varied.

The committee of a securities exchange may at any time remove any member of a sub-committee appointed by it under this section and may fill any vacancy in the sub-committee howsoever arising.