The Common Council of the City of London may appoint a committee, consisting of so many persons as they think fit, for any purposes of this Act which in their opinion may be better regulated and managed by means of a committee.
A committee so appointed—
shall consist as to a majority of its members of members of the Common Council, and
shall not be authorised to borrow money or to make a rate,
and shall be subject to any regulations and restrictions which may be imposed by the Common Council.
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