2. The powers and proceedings of the standing and interim committees shall be determined by the Regulations of the Supreme Rada of the Autonomous Republic of Crimea and the statutory acts of the Supreme Rada of the Autonomous Republic of Crimea. 3. With a view to exercising the control over the observance of the Ukrainian privatisation laws, the Supreme Rada of the Autonomous Republic of Crimea shall form the Watchdog Committee of the Supreme Rada of the Autonomous Republic of Crimea for Privatisation.