(1) The authority must establish an audit and risk committee.
(2) The authority board may establish committees to help the authority to exercise its functions.
(3) Without limiting subsection (2), committees may be established in relation to the following:
(a) corporate governance;
(b) audit and risk;
(c) design review;
(d) community engagement.
(4) The authority board must establish any committee prescribed by regulation.
(5) A regulation may prescribe—
(a) matters on which a committee can provide advice; and
(b) functions of the authority that may only be exercised after considering the advice of a committee.