(1) Powers, functions and duties of Chairman. - The Chairman shall have following powers, functions and duties:-
(a) to preside over the Board and Executive Committee;
(b) general supervision and control of all works of the Agency;
(c) to keep general control over all the officials of the Agency;
(d) to exercise powers, functions and duties under the provisions of the Act, Rules and Regulations.
(2) The Managing Director shall be full time officer and the Chief Executive officer of the Agency who shall function under the general supervision and control of the Chairman. He shall exercise such power as may be prescribed by the rules or delegated to him by the Board or Executive Committee and he may sub-delegate all or any powers vested in him to such officers, as he deems fit:
Provided that copies of all orders sub-delegating powers shall be placed before the Executive Committee soon after the orders are passed and the Executive Committee may approve, disapprove or modify any such order and thereafter such order shall remain in force in its original or modified form or cease to be in force as the case may be.