(1) As soon as practicable after the establishment day, the Board shall establish 4 committees, and shall (subject to subsection (2), in the case of the audit committee) appoint members to them, as follows:
(a) an audit committee;
(b) a credit committee;
(c) a finance committee;
(d) a risk-management committee.
(2) There shall be 6 members of the audit committee. The Minister shall appoint 2 members from among qualified persons who are not members of the Board, and shall determine the terms of their service on the Committee, including removal and resignation. The Board shall appoint the other 4 members from among the members of the Board.
(3) The Board shall not appoint the Chairperson or an ex-officio member of the Board as a member of the audit committee.
(4) The members of the credit committee, the finance committee and the risk-management committee shall be members of the Board or officers of NAMA. At least 2 members of each of those committees shall be members of the Board.
(5) A
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