Cap. 545 Art. 6Conduct of the affairs of the Regulator.

(1) Subject to the other provisions of this Act the affairs and business of the Regulator shall be the responsibility of the

Regulator itself but save as aforesaid, the executive conduct of the Regulator, its administration and organisation and the administrative control of its officers and employees, shall be the responsibility of the Chief Executive Officer of the Regulator, who shall also have such other powers as may from time to time be delegated to him by the Regulator and who shall be wholly accountable to the Regulator.

(2) The Regulator shall establish Directorates, Units, Divisions and Sections, as appropriate, which shall be vested with such responsibilities as the Regulator may decide and which it may vary from time to time, as it deems appropriate.

(3) The Regulator shall exercise its functions through the Directorates, Units, Divisions and Sections so established and for such purpose it shall vest in each of the Directorates, Units, Divisions and Sections so established and subject to the overall supervision and control of the Chief Executive Officer, such of its functions as relate or are ancillary to the matters for which it is responsible so as to enable the said Directorates, Units, Divisions and Sections to give effect to the policies of the Regulator and to otherwise discharge effectively and efficiently the functions of the Regulator in its respective area of operation.

(4) Each of the Directorates, Units, Divisions and Sections so established shall be headed by an individual who shall either be a public officer detailed for duty with the Regulator or an employee of the Regulator or a person detailed to work for the Regulator in accordance with an agreement made between the Regulator and a public or private undertaking, in either case having adequate experience or knowledge in the respective area of operation.

(5) The Regulator and each of the Directorates, Units, Divisions and Sections may exercise any one or more of their functions either directly or through any of their officers or employees or through an agency authorised for the purpose, or through a contractor or other person with whom an agreement for the performance of any one or more of such functions has been entered into:

Provided that nothing in this sub-article shall authorise the Regulator to contract out any of its regulatory or licensing functions.

(6) Where in this Act anything is to be done by or against or with respect to the Regulator, or any notice is to be or may be given to the Regulator, any such thing or notice may also be done by or against or with respect to or be given to the Directorate, Unit, Division and Section under whose jurisdiction the matter falls by reason of a delegation of function to such Directorate, Unit, Division and Section; and for the purposes aforesaid any reference in this Act to the Regulator includes a reference to the appropriate Directorate, Unit, Division and Section.

(7) The Chief Executive Officer and the heads of the Directorates, Units, Divisions and Sections shall be appointed by the Regulator for a period to be determined by the Regulator which shall in no case be less than three years: Provided that the Chief Executive Officer shall be appointed by the Minister.

(8) The Chief Executive Officer shall attend all the meetings of the Regulator but shall not vote at such meetings: Provided that the Regulator may if it so deems fit require the Chief Executive Officer not to attend any of the meetings or any part of a meeting.

(9) The Chief Executive Officer shall be responsible for the implementation of the objectives of the Regulator in the exercise of its functions and without prejudice to the generality of the foregoing he shall -

(a) assume full responsibility for the overall supervision and control of the Directorates, Units, Divisions and Sections;

(b) assign to each Directorate, Unit, Division and Section such duties which he considers necessary or expedient;

(c) co-ordinate the workings of the Directorates, Units, Divisions and Sections;

(d) develop the necessary strategies for the implementation of the objectives of the Regulator;

(e) advise the Regulator on any matter it may refer to him or on any matter which he considers necessary or expedient; and

(f) perform such other duties as the Regulator may assign to him from time to time.