National Oil Reserves Agency Act 2007

20.

Functions of chief executive.

20.— (1) The functions of the chief executive are—

(a) to carry on, manage and control generally the administration and business of the Agency, and

(b) to perform any other functions that may be determined by the directors.

(2) The chief executive is responsible to the board of directors for the performance of his or her functions and the implementation of the board’s policies.

(3) The chief executive shall provide the directors with such information, including financial information, in relation to the performance of his or her functions as the directors may require.

(4) The functions of the chief executive may be performed in his or her absence or when the position of chief executive is vacant by such member of the staff of the Agency as may be designated for that purpose by the directors.

(5) The person designated under subsection (4) to perform functions of the chief executive is not entitled to act as a director of the Agency.

(6) The directors may at any time revoke or alter a designation made under subsection (4).

(7) The chief executive shall not hold any other office or position or carry on any business, trade or profession without the consent of the directors.