18. Powers and functions of Finance Committee.

The Finance Committee shall

(i) scrutinise the annual statement of accounts and budget estimates of the Foundation prepared by the Director and make recommendations to the Governing Board;

(ii) prescribe the limits of the recurring and non-recurring expenditure of the Foundation for each

financial year;

(iii) review the financial position of the Foundation from time to time and have an internal audit conducted; and

(iv) perform such other functions as may be prescribed.