Appointment and functions of Committees

(1) The Board may, from time to time, appoint Committees consisting of such member of persons as it may think fit for the purpose of discharging such duties or performing such functions, and on such terms and conditions as may be prescribed by regulations. (2) The Chairman or such other person as he may nominate in this behalf shall be the President of the Committee and the Committee shall observe such rules of procedure in regard to transactions of business at its meetings as may be prescribed by regulations. (3) All proceedings of the Committee shall be subject to confirmation by the Board.