(1) The Board may establish committees consisting in whole or in part of persons who are members of the Board -

(a) to assist and advise the Board on matters relating to any of its functions or on such matters as the Board may from time to time determine, or

(b) to perform such functions of the Board as may be delegated by it from time to time.

(2) The Board, when appointing a member of a committee, shall -

(a) have regard to the range of qualifications and experience necessary for the proper and effective discharge of the functions of the committee,

(b) have regard to the desirability of such balance between the numbers of each sex on the committee as is appropriate and determined from time to time,

(c) fix the member's period of membership,

(d) fix the terms of his or her membership.

(3) The members of a committee may be paid by the Board such fees as the Board may determine, subject to the consent of the Minister and the Minister for Public Expenditure and Reform.