(1) Subject to the superintendence, direction and control of the committee, all the executive functions of the committee shall be exercised by the Chief Executive Officer.
(2) Without prejudice to the provisions of sub-section (1), the Chief Executive Officer shall,-
(i) supervise the financial and executive administration of the committee and exercise such powers and perform such duties and functions as may be conferred or imposed upon him by this Act, or the rules, regulations or by-laws or delegated to him by the committee under this Act ;
(ii) supervise and control all officers and servants of the committee ;
(iii) be responsible for collection of all sums due to the committee and payment of all sums payable by the committee ;
(iv) ensure adequate security of all assets and property of the committee ;
(v) be responsible for the proper application of the Market Fund and property according to the provisions of this Act and rules, regulations or by-laws made thereunder.
(3) The Chief Executive Officer may, with the sanction of the committee, delegated any of the powers or duties or functions conferred or imposed upon him by or under this Act, to any officer or servant of the committee.