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Committees.
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15.—(1) The Board may establish committees to assist and advise it in relation to the performance of any of its functions.
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(2) The Board may delegate to a committee any of its functions which, in its opinion, can be better or more conveniently exercised or performed by a committee.
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(3) The Board shall decide the terms of reference for any committee and may regulate the procedure of any such committee.
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(4) The members of a committee shall be appointed by the Board.
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(5) A committee shall consist of such number of members as the Board thinks proper.
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(6) A committee may include persons who are not members of the Board or staff of the Foundation.
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(7) A member of a committee who fails to perform his or her functions may be removed at any time for stated reasons by the Board.
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(8) The Board may at any time dissolve a committee.
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(9) The Board may appoint a person to be chairperson of a committee.
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(10) The acts of a committee shall be subject to confirmation by the Board save where the Board dispenses with the necessity for such confirmation.
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(11) There shall be paid out of the income of the Foundation to members of a committee such allowances for expenses incurred by them in the discharge of their functions as the Board may determine with the consent of the Minister and the Minister for Finance.
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(12) In this section “a committee” means a committee of the Foundation established under this section.
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