(1) The Regulations may prescribe certain committees for this section.
(a) must establish the prescribed committees; and
(b) may establish other committees of the Board for effectively and efficiently performing its functions.
Example for subsection (2)(b)
A Board may establish an Audit and Risk Committee to advise the Board on such matters.
(3) The Board is to decide the terms of reference of a committee.
(4) The functions of a committee are to advise and make recommendations to the Board about matters, within the scope of the Board's functions, referred by the Board to the committee.
(5) The procedures of a committee are:
(a) as determined by the Board; or
(b) otherwise – as the committee determines for itself.
(6) A committee may, with the approval of the Board, obtain assistance, advice and information from any person.