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5.—(1) Subject to the following provisions of this article, the Corporation may establish a committee of the Corporation for any purpose or function, other than those assigned elsewhere in these Articles to the Principal or to the Academic Board, and may delegate powers to such a committee or to the Chairman of the Corporation or to the Principal.
(2) The number of members of a committee established under this article, and the terms on which they are to hold and vacate office, shall be determined by the Corporation.
(3) Such a committee may include persons who are not members of the Corporation.
(4) The Corporation shall establish a committee or committees to determine or advise on such matters relating to employment policy or finance as the Corporation may remit to them. The members of the committee or committees shall be drawn from the members of the Corporation, other than staff or student members, and shall include the Principal whether or not he is a member of the Corporation.
(5) The Corporation shall establish a committee, to be known as the Remuneration Committee, to advise on the remuneration of the holders of senior posts. The members of the committee shall be drawn from the members of the Corporation, other than staff or student members, and the chairman shall be a business member. Business members shall be in the majority.
(6) The Corporation shall not, however, delegate the following—
(a)the determination of the educational character and mission of the institution;
(b)the approval of the annual estimates of income and expenditure;
(c)ensuring the solvency of the institution and the Corporation and the safeguarding of their assets;
(d)the appointment or dismissal of the Principal; and
(e)the modifying or revoking of these Articles.
(7) The Corporation shall ensure that a written statement of their policy regarding—
(a)attendance at committee meetings by persons who are not committee members; and
(b)the publication of the minutes of committee meetings,
is made available during normal office hours at the institution to any person wishing to inspect it.
(8) The Principal may delegate to a holder of a senior post any of his functions under articles 8, 11 and 13.
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