(1) The functions mentioned in subsection (2) shall stand delegated to a sub-committee of the court of directors of the Bank consisting of the directors of the Bank.
(2) The functions referred to are-
(a) keeping under review the Bank's performance in relation to the objectives and strategy for the time being determined by the court of directors of the Bank,
(b) monitoring the extent to which the objectives set by the court of directors of the Bank in relation to the Bank's financial management have been met,
(c) keeping under review the internal financial controls of the Bank with a view to securing the proper conduct of its financial affairs, and
(d) determining how the functions under paragraph 14 of Schedule 1 (remuneration and pensions etc. of executive members of the court) should be exercised.
(3) [deleted]
(4) The chair of the court (designated under paragraph 13 of Schedule 1) shall chair meetings of the sub-committee (when present).
(5) If a member of the sub-committee h