Section 146 - Delegation to committees and managing directors

Except otherwise provided in the constitution of a company, the board of directors may

(a) exercise their powers through committees consisting of a member or members of the board as the board of directors think fit, and

(b) from time to time appoint one or more of the members of the board to the office of managing director and may delegate all or any of the powers of the board of directors to that managing director.