s 8 Appointment of committees and delegation of powers
8.—(1) The Corporation may appoint from among its own members or other persons who are not members of the Corporation any number of committees that 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. (2) The Corporation may, subject to any conditions or restrictions that it thinks fit, delegate to any such committee or the Chairperson 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 Chairperson in the name and on behalf of the Corporation. (3) The Corporation may, subject to any conditions or restrictions that it thinks fit, delegate to any employee of the Corporation 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.