(1) The Government shall, by notification in the Gazette, constitute, with effect from such date as may be specified therein, a Committee to be called the “Kerala Ration Dealers’ Welfare Fund Managing Committee” for the administration of the Fund and to supervise and carry out the activities financed from the Fund, consisting of the following persons as its members, namely:-
(a) The Commissioner of Civil Supplies, ex-officio, who shall be the chairman of the Managing Committee;
(b) The Director of Civil Supplies, ex-officio, who shall be the secretary and Chief Executive Officer of the Managing Committee:
Provided that the Government may appoint an officer of the Civil Supplies Department, not below the rank of Deputy Controller of Rationing as full-time Secretary and Chief Executive Officer of the Managing committee and in that event the Chief Executive Officer shall be a member and the Director of Civil Supplies a member exofficio of the Managing Committee;
(c) the Controller of Rationing, ex-officio;
(d) the Chief Accounts Officer, Civil Supplies Department, ex-officio;
(e) a representative of the Finance Department, not below the rank of Joint Secretary, nominated by the Government;
(f) a representative of the Law Department, not below the rank of Joint Secretary, nominated by the Government;
(g) four representatives of the ration dealers, nominated by the Government.
(2) The Managing Committee shall be a body corporate by the name aforesaid, having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and to enter into contracts and shall, by the said name, sue and be sued.
(3) The Managing Committee shall administer the Fund in such manner as may be specified in the Scheme.
(4) The Chairman and the Chief Executive Officer shall exercise such powers and perform such functions as may be specified in the Scheme.
(5) The Managing Committee may, with the previous approval of the Government, delegate to the Chairman or to any other member or to the Chief Executive Officer of the Managing Committee or to any other officer, such of its powers and functions under this Act or the Scheme, as it may consider necessary, for the effective administration of the Fund, subject to such conditions and restrictions, if any, as it may specify.