12Committees

12 Committees

(1)  The Board –

(a) must establish an audit committee; and

(b) may establish such other committees as it considers appropriate.

(2)  A committee –

(a) must provide the Board with advice on any matter referred to it by the Board; and

(b) must perform any functions, and may exercise any powers, delegated to it by the Board.

(3)  In addition to its functions under subsection (2) , the audit committee must provide the Board with advice on –

(a) the internal audit charter of the Authority; and

(b) monitoring the Authority's systems of financial reporting and internal control; and

(c) the resources necessary for the performance of the internal audit function of the Authority.

(4)  Schedule 4 has effect with respect to –

(a) the members of a committee; and

(b) the meetings of a committee.