33.— (1) As soon as may be after the establishment day, IFI shall, subject to section 49 and following consultation with any recognised trade union or staff association concerned, prepare and submit to the Minister a staff scheme or schemes providing for the regulation, control and management of the staff of IFI.

(2) Such a scheme shall indicate in respect of the different grades of staff (either generally or severally, as may be appropriate) the remuneration, tenure of office, qualifications for appointment and conditions of service.

(3) A scheme submitted to the Minister under this section shall, if approved by the Minister with the concurrence of the Minister for Finance, be implemented by IFI in accordance with its terms.

(4) IFI may, after consultation with any recognised trade union or staff association concerned, at any time, with the approval of the Minister given with the concurrence of the Minister for Finance, amend a scheme under this section.