(1) Subject to subsection (2), the Board may by writing delegate any of its functions to —
(a) any member;
(b) a Committee;
(c) the Chief Executive Officer; or
(d) any of its officers.
(2) Subsection (1) does not authorise the Board to delegate its power to make rules or to do any act involving extraordinary expenditure.
(3) A delegation under this section may —
(a) be made in respect of any particular matter or class of matters or generally, or may be made subject to such terms and conditions as the Board thinks fit;
(b) at any time, be revoked by the Board and while in force shall not prevent the discharge by the Board of any function that it has delegated under subsection (1).
(4) A delegate must comply with any written directions of the Board.