Amendment status not verified — confirm the current text below against the official source.
(1) The Managing Director who shall be whole-time officer of the Corporation shall – (a) be its Chief Executive Officer; (b) be responsible for the operational management of the Corporation and implementation of the general policies approved by the Corporation; (c) perform such duties as the Corporation may, by regulations or otherwise, assign to him. (2) If the Managing Director is by infirmity or otherwise rendered incapable of carrying out his duties or is absent on leave or otherwise, in circumstances not involving the vacation of his appointment the Government may appoint another person to act in his place during his absence.