(1) Subject to the superintendence, direction and control of the Authority, all the executive functions of the Authority 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 Authority and exercise such power and perform such duties and functions as may be conferred or imposed upon him by this Act or the rules or regulations or delegated to him by the Authority under this Act;
(ii) supervise and control all officers and servants of the Authority;
(iii) be responsible for collection of all sums due to the Authority and payment of all sums payable by the Authority;
(iv) ensure adequate security of all assets and property of the Authority;
(v) to be responsible for the proper application of the Truck Terminal Funds and property according to the provisions of this Act and rules or regulation made thereunder.
(3) The Chief Executive Officer may, with the sanction of the Authority, delegate any of the powers or functions conferred or imposed upon him by or under this Act, to any officer or servant of the Authority.