5.— (1) The Governor is responsible for the exercise of the functions of the Bank under this Act.

(2) The Governor may delegate any of the functions referred to in subsection (1) to a Head of Function (within the meaning given by section 2 of the Act of 1942) or an officer or employee of the Bank.

(3) The Governor, in delegating any function referred to in subsection (1), shall endeavour to ensure that the performance of that function is operationally separate from the regulatory and supervisory responsibilities of the Bank.