(1) The Board shall constitute an advisory committee for recommending investor educationand protection activities that may be undertaken directly by the Board or through any otheragency, for utilisation of the Fund for the purposes referred to in regulation 5.
(2) The Committee shall consist of the following members, namely:-
(a) the Executive Director of the Board in charge of Office of Investor Assistance and Education who shall be the convener of the Committee;
(b) two other officials of the Board;
(c) five other members who have expertise about the securities market and experience in matters of investor grievance redressal or investor education.
(3) (a) The term of office of members referred in clause (c) of sub-regulation (2) of regulation 7 shall be two years, which may be extended for a further period of two years.
(b) Any vacancy arising out of resignation, retirement or death of a member or for any other reason shall be filled by the Board for the remaining period of the term of such member.
(4) The Board may dissolve and reconstitute the Committee if, at any time, the Board is of the opinion that the Committee is unable to discharge the functions and duties imposed on it by or under these regulations.
Functions of the Committee.
8. The Committee shall consider investor education and protection activities keeping in view the purposes mentioned in regulation 5 and the regulation 6 and submit its recommendations thereon to the Board.
Meetings of the Committee.