Section 70
of International Business Companies Order, 2000
ORDERIn forceProvision 71 of 189
Section 70
(1)
By a resolution of the directors, the directors may designate one or more committees, each consisting of one or more directors.
(2)
Subject to any relevant modification and to subsection (3), each committee has such powers and authority of the directors, including the power and authority to execute and complete any document as the agent of the IBC or to affix the common seal (if any) of the IBC, as are specified in the resolution of the directors designating the committee.
(3)
No committee has any power or authority with respect to the matters requiring a resolution of directors under sections 53, 54 or 63.
Meetings of directors.