7. Subject to other provisions of this Ordinance, the Board shall have full power to administer, control and manage an institution and, in particular, in respect of the following matters:-(a) to acquire and dispose of property and generally to enter into contracts in conformity with the purposes of this Ordinance;(b) to recruit and to determine the terms and conditions of service of the Principal and other members of the staff of the institution, and all other officers and employees of the Board:Provided that, in determining the terms and conditions of service in relation to any post carrying a salary of more than five hundred ¹[Taka] per mensem, the previous sanction of the ²[* * *] Government shall be necessary;(c) to formulate the budget of the institution for approval of the ³[* * *] Government;(d) to set up an Executive Committee and such other Standing Committees as may, from time to time, be required for carrying out the purposes of this Ordinance;(e) to delegate powers to the Chairman, the Executive Committee, any Standing Committee, the Principal, or other staff of the institution and other officers and employees of the Board; and(f) to frame, subject to the approval of the ⁴[* * *] Government, regulations for the conduct of business of the Board.