(1) There shall be constituted an Executive Committee for administration of the Fund.
(2) The Executive Committee shall consist of the following ex-officio members namely:-
(a) the Chief Secretary to the Government of Madhya Pradesh who shall be the Chairman of the Executive Committee;
(b) the Secretary in-charge, Government of Madhya Pradesh, Finance Department;
(c) the Secretary In-charge, Government of Madhya Pradesh, Public Works Department;
(d) Managing Director, Madhya Pradesh' Road Development Corporation - Member Secretary.
(3) The Executive Committee shall meet at such time and place as the Chairman of the Executive Committee may decide and shall observe such rules of procedure in regard to transaction of business at their meetings including quorum as may be prescribed by regulations.
(4) All matter in a meeting of the Executive Committee shall be decided by a majority of the members present and voting.
6. The Executive Committee shall have the following powers and functions, namely: -
(a) to take such measures as may be necessary to raise funds for highway and infrastructure projects;
(b) to sanction funds for construction of Highway and other infrastructure projects to be financed out of the Fund.
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7. The Member Secretary shall-
(a) discharge functions assigned by the Executive Committee.
(b) administer the Fund for carrying out the mandate given by the Executive Committee.
CHAPTER IV MISCELLANEOUS