(1) The Director General and the Financial Commissioner appointed by the Central Government under sub-section (1) of section 24 shall receive such pay and allowances and other benefits as are admissible to officers of the Central Government drawing corresponding level of pay:

Provided that where the Director General or the Financial Commissioner is a person already in the service of the Corporation, he shall be entitled to pension, gratuity and other superannuation benefits to which he would have been otherwise entitled but for his appointment as the Director General or the Financial Commissioner.

(2)

(a) The powers and duties of the Director General of the Corporation shall be —

(i) to act as the Chief Executive Officer of the Corporation;

(ii) to convene, under the orders of the Chairperson of the Corporation, meetings of the Corporation, the standing committee and the medical benefit committee thereof in accordance with the Code and the rules made thereunder by the Central Government and to implement the decisions reached at the meetings;

(iii)to enter into contracts on behalf of the Corporation in accordance with the Code or the rules made by the Central Government thereunder or regulations made thereunder, or the general or special instructions of the Corporation or the Standing Committee thereof;

(iv) to furnish all returns and documents required by the Code or the rules made thereunder by the Central Government, to the Central Government and to correspond with the Central Government and the State Governments upon all matters concerning the Corporation;

(v) to undertake such other duties and to exercise such other powers as may from time to time, be entrusted to him under the Code and the Central Rules and Regulations made thereunder.

(b) The Director General may, with the approval of the Standing Committee, by general or special order, delegate any of his powers or duties under the Central rules or the regulations or under any resolution of the Corporation or the Standing Committee thereof, as the case may be, to any person subordinate to him and the exercise or discharge of any of the powers or duties so delegated shall be subject to such restrictions, limitations and conditions, if any, as the Director General may, with the approval of the Standing Committee of the Corporation, impose.

(3) The powers and duties of the Financial Commissioner of the Corporation shall, subject to the control of the Director General, be —

(i) to maintain the accounts of the Corporation and to arrange for the compilation of accounts by the collection of returns from the centres and the regions of the Corporation;

(ii) to prepare the budget of the Corporation;

(iii)to arrange for internal audit of the accounts of the centres and the regions of the Corporation and of the receipts and payments thereat;

(iv) to make recommendations for the investment of the funds of the Corporation; and

(v) to undertake such other duties and to exercise such other powers as may, from time to time, be entrusted or delegated to him for executive convenience.

(4) The powers of the Corporation under sub-section (7) of section 24 for employing such officers and employees shall be exercised by the Corporation in relation to posts carrying maximum of level 14 in the pay matrix as per the Seventh Central Pay Commission.