¹[5. Powers and functions of the Chief Executive Officer.--²[(1) Subject to the provisions contained in sub-section (1A) of section 4, the Chief Executive Officer, appointed under clause (c) of sub-section (2) of section 4, shall exercise such powers and discharge such functions in respect of general superintendence over the affairs of the Commission and its day-to-day management, as may be prescribed.
     (1A) Without prejudice to the powers and functions referred to in sub-section (1), the Chief Executive Officer shall exercise such powers and discharge such functions under the general superintendence, direction and management of the Commission.]
     (2) The Chief Executive Officer ³[shall, in addition to exercise of the powers and discharge of the functions referred to in sub-section (1), be responsible] for the furnishing of all returns, reports and statements required to be furnished to the Central Government under section 24.
     (3) It shall be the duty of the Chief Executive Officer to place before the Commission for its consideration and decision any matter of financial import if the Financial Adviser suggests to him in writing that such matter be placed before the Commission.]