Section 9F: Executive Committee

4[9F. Executive Committee.⸺(1) An Executive Committee shall be established with the power to formulate policies related to the Bank’s core functions as well as those related to administration and management matters, excluding those matters falling in the purview of the Monetary Policy Committee, or the Board of Directors. (2) The Executive Committee shall consist of the Governor, the Deputy Governors, Executive Directors, and as needed other senior officials. The Governor and the Deputy Governors shall have the right to vote on decisions taken by the Executive Committee. The Governor shall have the casting vote. (3) The Executive Committee shall adopt its own rules of procedure. (4) The Executive Committee shall be chaired by the Governor and in the Governor absence, by the Deputy Governor in charge of the Executive Committee meeting agenda items. (5) The quorum for an Executive Committee meeting shall be two members, including the Chairperson. (6) The Executive Committee may delegate, for implementation of its decisions, any of its powers to another committee of the Bank, or to another official of the Bank. (7) Any residual matters that have not been explicitly addressed in this Act or allocated to the Board of Directors or the Monetary Policy Committee, if they require a policy decision shall be exercised by the Executive Committee or otherwise the Governor.

Effective date: 1956-04-18

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