4.—(1) The Board may, consistent with its duties and subject to such conditions as they think fit, delegate any of their functions (other than the functions set out in sub-paragraphs (a) to (f) of paragraph 9B of Schedule 2 to the 1964 Act) to a committee of the Board.
(2) The Board may—
(a)appoint to serve on any committee established by the Board persons who are not members of the Board;
(b)make the exercise of the Board’s functions by such a committee subject to such conditions as the Board think fit, including the length of the period during which those functions may be exercised;
(c)determine the procedure and terms of reference of any such committee.
(3) Any such committee shall include among its members at least three Board members.
(4) The quorum for any meeting of any such committee shall include at least two Board members present and able to vote at such a meeting.
(5) All decisions of such committee which involve performance of functions which are the responsibility of the Board shall be reported in writing as soon as practicable to the Board.
(6) The provisions of section 10 of the 1954 Act relating to pecuniary interests of members of the Board shall apply to members of any such committee as they apply to members of the Board.