Section 18. Powers and functions of Finance Committee.

The Finance Committee shall-- (i) scrutinise the annual statement of accounts and budget estimates of the Foundation prepared by the Director and make recommendations to the Governing Board; (ii) prescribe the limits of the recurring and non-recurring expenditure of the Foundation for each financial year; (iii) review the financial position of the Foundation from time to time and have an internal audit conducted; and (iv) perform such other functions as may be prescribed.