(1) The Board may
delegate a function or power under this Act (other than a prescribed function
or power)—
(a) to a
member of the Board; or
(b) to a
committee established by the Board; or
(c) to a
specified body or person (including a person for the time being holding or
acting in a specified office or position).
(2) A delegation under
this section—
(a) must
be by instrument in writing; and
(b) may
be absolute or conditional; and
(c) does
not derogate from the ability of the Board to act in any matter; and
(d) is
revocable at will.
(3) A function or
power delegated under this section may, if the instrument of delegation so
provides, be further delegated.