(1) The Academic Board and the Management and Finance Committee shall be standing committees of the Board.
(2) In addition, the Board may appoint a committee of the Board to examine and report to it on any matter whatsoever arising out of or connected with any of its powers and duties under this Act.
(3) Any such committee appointed under subsection (2) shall consist of at least 2 members of the Board together with such other persons, whether members of the Board or not, whose assistance or advice the Board may desire.
(4) Where persons, not being members of the Board, are members of a Standing Committee or a committee appointed under subsection (2), the Board may with the approval of the Minister, by resolution declare the remuneration and allowances of such persons, and such sums shall properly be payable out of the funds and resources of the Board.
(5) The Board may by resolution reject the report of any such committee appointed under subsection (2) or adopt it either wholly, or with such modifications, additions or adaptations as the Board may think fit.