(1) Each member of the Executive COl1l!fui'lee shall be entrusted with specific subjects, the allocation of the subjects being made by the Chief Executive member. The Executive Committee shall be collectively responsible for all executive orders issued in the .name of the District Council in accordance with the provisions of this Act, whether such orders are authorised by an individual member of the Executive Committee on a matter relating to his subject or as a result of discussion at a meeting of the Executive Committee, or howsoever otherwise.
(2) One of the members of the Executive Committee will be in charge of the District Fund, who shall be referred to as the member in charge or the financial affairs of the District Council. The functions of the member-in-charge of the financial affairs of the District Council shall be as follows:-
(a) he shall generally advise on all matters touching receipts and expenditure of the District Council;
(b) he shall be responsible for all matters relating to financial procedure and the application of the principles of sound finance; ,
(c) he shall prepare the Budget of the District Council and deal with all matters relating to Budget procedure and the forms and contents of the financial statement;
(d) he shall be responsible for the "Ways and Means" position of the District Fund.