(1) The Corporation shall have a Managing Director, a General Manager and a Chief Accounts Officer, who shall be appointed by the State Government.
(2) The Corporation may appoint such other officers and employees as it considers necessary for the efficient performance of its functions.
(3) The conditions of appointment, and the scales of pay, of the officers and other employees of the Corporation shall,—
(a) as respects the Managing Director, the General Manager and the Chief Accounts Officer, be such as may be prescribed;
and
(b) as respects the other officers and employees, be such as may, subject to the approval of the State Government, be determined by regulations made under this Act.
(4) The Managing Director shall be the executive head of the Corporation and all other officers and employees of the Corporation shall be subordinate to him.
11. No person who has, directly or indirectly by himself or by his partner or agent, any share or interest in any contract, by or on behalf of the Corporation or in any work undertaken by the Corporation, shall become or remain an officer or other employee of the Corporation.
288 The West Bengal Backward Classes Development and Finance Corporation Act, 1995.
XIX of 1995.]
(Sections 12-14.)
12. The Corporation may, subject to such conditions and limitations as it may specify, authorise the Managing Director to exercise such powers and perform such duties as it may deem necessary for the efficient administration of its business.
13. All orders and decisions of the Corporation shall be authenticated by the signature of the Chairman or any other member authorised by the Corporation in this behalf and all other instruments issued by the Corporation shall be authenticated by the signature of the Managing Director or by any other officer of the Corporation authorised by the Managing Director in this behalf.