30.— (1) IFI may, subject to subsection (2), appoint persons to be its employees and may determine their duties.

(2) IFI shall, with the approval of the Minister given with the consent of the Minister for Finance, determine—

(a) the terms and conditions of employment (including terms and conditions relating to remuneration and allowances) of employees appointed under this section, and

(b) the grades of the employees of IFI and the numbers of employees in each grade.

(3) The remuneration and allowances of the employees of IFI are payable by IFI to them out of funds at its disposal.