10. Functions of the Authority.-
(I) Subject to the provision of the Act. the Authority shall have the duty to administer the Fund for Investor Education and Protection.
(2) The general management of the affairs of the Authority shall vest in the Chief Executive Officer, who may exercise powers, which may be authorised by the Authority.
(3) The Chief Executive Officer shall function under superintendence and direction of the Chairperson.
(4) Without prejudice to the generality of the provisions, the functions of the Authority shall include the following, namely:-
(a) The Authority may constitute permanent Committees for overseeing its functions;
(b) Each Committee shall comprise two members, Chief Executive Officer and concerned functional head, who shall be the secretary of the Committee. The Committee shall be headed by an ex-officio member;
(c) The Committee may invite experts with special knowledge and expertise, as and when required to assist it on any specific issue;
(d) The Authority may outsource, if required, work related to Funds and Shares Management.
(e) The broad functional divisions of the Authority shall be as per Schedule II to these rules. |