Section 8: Delegation of powers

8. Delegation of powers (1) Subject to subsection (2) and to such instructions and rules of a general nature as it may give or make, the Board may delegate to a committee O8 – 3 [Issue 1] consisting of not less than 3 members, or to the General Manager, such of its powers under this Act as may be necessary to assist in the effective management of the business of the Corporation, other than the power— (a) to borrow money; (b) to make investments; or (c) to enter into any transaction in respect of capital expenditure which exceeds 100,000 rupees. (2) (a) No document shall be executed by or on behalf of the Corporation unless it is signed by the General Manager and the Chairperson or, in the absence of the Chairperson, any other member appointed by the Board for the purpose. (b) Notwithstanding paragraph (a), any document to which the Corporation is a party may be signed by any other person nominated for the purpose by the Board and shall, when so signed, be deemed to be duly executed by or on behalf of the Corporation.