law: Life Insurance Corporation Act, 1956 
  19. Committees of the
  
  Corporation.- 
  
  1.     
  
    The
  
  Corporation may entrust the general superintendence and direction of its
  
  affairs and business to an Executive Committee consisting of not more than five
  
  of its members and the Executive Committee may exercise all powers and do all
  
  such acts and things as may be delegated to it by the Corporation.
  2.     
  
    The
  
  Corporation may also constitute an investment Committed for the purpose of
  
  advising it in matters relating to the investment of its funds, and the
  
  Investment Committee shall consist of not more than seven members of whom not
  
  less than three shall be members of the Corporation and the remaining members
  
  shall be persons (whether members of the Corporation or not) who have special
  
  knowledge and experience in financial matters, particularly, matters relating
  
  to investment of funds.
  3.     
  
    The
  
  Corporation may constitute such other Committees as it may think fir for the
  
  purpose of discharging such of its functions as may be delegated to them.