Mutual Funds Advisory Committee

(1) There shall be a Committee called the Mutual Funds Advisory Committee which shall consist of not more than five persons appointed by the Minister from among members of the private sector who are known to have adequate knowledge and experience in the mutual funds industry. (2) The Minister shall be the Chairperson of the Mutual Funds Advisory Committee and the Registrar shall be an ex- officio member thereof. (3) The Mutual Funds Advisory Committee shall, (a) advise the Minister on any matter referred to it by the Minister in relation to the mutual funds industry; (b) on its own motion, report and make recommendations to the Minister on any matter relating to mutual funds as it sees fit; and (c) have the power to establish its own working rules and procedures.