Appointment of committees and delegation of powers
17.—(1)  The Corporation may appoint from among its own members or other persons who are not members such number of committees as it thinks fit consisting of members or other persons or members and other persons for purposes which, in the opinion of the Corporation, would be better regulated and managed by means of those committees.
(2)  The Corporation may, subject to such conditions or restrictions as it thinks fit, delegate to any such committee, the Chairman, any member or the chief executive officer all or any of the powers, functions and duties by this Act vested in the Corporation, except the power to borrow money; and any power, function or duty so delegated may be exercised or performed by that committee, the Chairman, member or the chief executive officer, as the case may be, in the name and on behalf of the Corporation.
(3)  The Corporation may, subject to such conditions or restrictions as it thinks fit, delegate to any employee thereof all or any of the Corporation’s powers, functions and duties by this Act vested in the Corporation, except the power to borrow money or to raise or grant loans or advances to or subscribe to or underwrite the issue of stocks, shares, bonds or debentures of industrial enterprises; and any power, function or duty so delegated may be exercised or performed by such employee in the name and on behalf of the Corporation.
(4)  [Deleted by Act 5 of 2018 wef 01/04/2018]