Section 8. Executive and other Committees.

(1) There shall be an Executive Committee of the Board constituted in the manner prescribed. (2) The Executive Committee shall exercise such of the powers and perform such of the duties of the Board as may be prescribed, or as the Board may delegate to it. (3) Subject to such control and restrictions as may be prescribed, the Board may constitute other Standing Committee or ad hoc Committees for exercising any power or discharging any duty of the Board or for enquiring into or reporting and advising on any matter which the Board may refer to them. (4) A Standing Committee shall consist exclusively of members of the Board. (5) An ad hoc committee may include persons who are not members of the Board, but their number shall not exceed one half of its strength.