Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Board may delegate all or any of its powers and functions under this Act, other than powers and functions under sections 48, 54, 71 and 72, to:
(a) a committee appointed under section 47; or
(b) the Managing Director; or
(c) the Deputy Managing Director; or
(d) a person employed by EFIC under section 90.
(2) In the exercise of a delegated power, the delegate is subject to the directions of the Board.
(3) The Minister may, if he or she thinks it appropriate to do so, give directions to the Board regarding the exercise of its powers under subsection (1).