(1) The Board may constitute such number of committees as it may deem fit for the purpose of assisting the Board in the efficient discharge of its functions:
Provided that the Board shall not delegate any of its powers or assign the powers of the Chief Executive, to any committee.
(2) A committee constituted under sub-section (1) may, with the approval of the Board, co-opt such number of persons as it deems fit as members of the committee:
Provided that the Chief Executive appointed under section 378W or a director of the Producer Company shall be a member of such committee.
(3) Every such committee shall function under the general superintendence, direction and control of the Board, for such duration, and in such manner as the Board may direct.
(4) The fee and allowances to be paid to the members of the committee shall be such as may be determined by the Board.
(5) The minutes of each meeting of the committee shall be
placed before the Board at its next meeting.
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1. Ins. by Act 29 of 2020, s. 52 (w.e.f. 11-2-2021).
Section 378O Number of directors
Section 378P Appointment of directors
Section 378Q Vacation of office by directors
Section 378R Powers and functions of Board
Section 378S Matters to be transacted at general meeting
Section 378T Liability of directors
Section 378U Committee of directors
Section 378V Meetings of Board and quorum
Section 378W Chief Executive and his functions