Duties of the Executive Director

(1) The Executive Director shall, subject to the general policy decisions of the Board, be responsible for the management of the Fund including the organization of staff in accordance with the general terms and conditions of service established by the Board. (2) The Executive Director shall have authority, (a) to sign jointly with another Director, reports, balance sheets and other financial statements; (b) to delegate his powers provided for in paragraph (a) of this sub-section to other officers of the Fund. 10