1. The following have been established as Bodies of the Community :

(a) the Legal Affairs Committee (b) the Budget Committee (c) the Committee of Central Bank Governors (formerly Council of Central Bank Governors)

2. The Organs of the Community may establish, as they deem necessary, other Bodies of the Community.

Composition and Functions of Bodies of the Community

1. The Legal Affairs Committee shall consist of the Ministers responsible for Legal Affairs or Attorneys-General of the Member States, or both, and shall be responsible for providing the Organs and Bodies, either on request or on its own initiative, with advice on treaties, international legal issues, the harmonisation of laws of the Community and other legal matters.

2. The Budget Committee shall consist of senior officials of the Member States who shall perform their functions in a professional capacity . It shall examine the draft budget and work programme of the Community prepared by the Secretariat and submit recommendations to the Community Council.

3. The Committee of Central Bank Governors shall consist of the Governors or Heads of the Central Banks of the Member States or their nominees. The Committee shall make recommendations to COFAP on matters relating to monetary co-operation, payments arrangements, free movement of capital, integration of capital markets, monetary union and any other related matters referred to it by the Organs of the Community.

4. The procedures of Bodies shall be regulated, mutatis mutandis, by the relevant provisions of Articles 27 and 29 of the Revised Treaty establishing the Caribbean Community including the CARICOM Single Market and Economy.