The Board may delegate to the Executive Committee or the Chief Executive Officer such powers and functions under this Act or scheme as it may consider necessary for the efficient administration of the fund, subject to such restrictions and conditions if any, as it may specify.
*9. Guarantee by Government of loans - (l) **The Government shall guarantee the payment of the principal and interest of any fund proposed to be raised by the Board under section 8:
Provided that the total guarantee issued by the Government under this Act shall not exceed the limits set by the Kerala Ceiling on Government Guarantees Act, 2003 (30 of 2003) in force.
(2) The Government shall, so long as any such guarantee is in force lay before the State Legislature in every year during the budget session, a statement of the guarantee, if any, given during the current financial year and up to date accounts of the total sums, if any, which have been paid out of the Consolidated Fund of the State by reason of any such guarantee or paid into the said fund towards repayment of any moneys so paid out.
*#10. Appointment of officers and staff. -(1) The Board may with the approval of Government, create such posts and appoint such number of officers and staff as it considers necessary to assist the Board in the discharge of its functions and duties under this Act.
(2) There shall be a Chief Executive Officer (CEO) for the Board who shall be given the rank and status of a Secretary to the Government, appointed by the Government. The Chief Executive Officer shall be the Fund Manager of the Board.
(3) The Chief Executive Officer shall exercise the power of supervision and control over all the officers and staff of the Board.
(4) The method of appointment, salary and allowances and other conditions of service of the officers and the staff appointed under subsection (1) shall be such, as may be specified, by the Government from time to time.
* Vide Act 5 of 2002, the words “rupees one thousand crores” substituted with “rupees two thousand crores”.
** Substituted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016 *# Substituted vide Act 15 of 2016, notification no. 15841/Leg. A1/2016/Law dated 05.11.2016
11. Mode of recovery of money due to Board —All sums payable by any person to the Board or recoverable by at under this Act or the scheme and all charges or expenses incurred in connection therewith shall, without prejudice to any other mode of recovery, be recoverable as arrears of public revenue due on land under the provisions of the Revenue Recovery Act for the time being in force.