Section 16Part 2 — Establishment, Capital and Administration of Authority
Establishment of Management Committee
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Without prejudice to section 17, there is established a committee to be known as the Management Committee.
The Management Committee shall comprise —
the managing director;
a deputy managing director;
the head of each regulatory and each supervisory division within the Authority, or such person as may be designated by the head to act in that head's absence; and
such other senior officer of the Authority as the managing director may, with the approval of the board, designate.
The managing director may designate an employee of the Authority to act as secretary to the Management Committee performing such duties as the Management Committee may determine.
The board may, subject to section 15(4), by instrument in writing, delegate to the Management Committee such licensing, supervisory and other powers and duties as the board sees fit; and the Management Committee shall, subject to section 48, exercise and carry out the powers and duties so delegated by the board.
Defined Terms
Management Committeedeputy managing directorregulatory divisionsupervisory division
Cross References
- Section 17 of Monetary Authority Actexternal
additional committees
- Section 15 of Monetary Authority Actexternal
board meetings and decisions
- Section 48 of Monetary Authority Actexternal
limitations on delegated powers