Section 581W(5) in The Companies (Amendment) Act, 2002
(5)Without prejudice to the generality of sub- section (4), the Chief Executive may exercise the powers and discharge the functions, namely:-(a)do administrative acts of a routine nature including managing the day- to- day affairs of the Producer Company;(b)operate bank accounts or authorise any person, subject to the general or special approval of the Board in this behalf, to operate the bank account;(c)make arrangements for safe custody of cash and other assets of the Producer Company;(d)sign such documents as may be authorised by the Board, for and on behalf of the company;(e)maintain proper books of account; prepare annual accounts and audit thereof; place the audited accounts before the Board and in the annual general meeting of the Members;(f)furnish Members with periodic information to appraise them of the operation and functions of the Producer Company;(g)make appointments to posts in accordance with the powers delegated to him by the Board;(h)assist the Board in the formulation of goals, objectives, strategies, plans and policies;(i)advise the Board with respect to legal and regulatory matters concerning the proposed and on going activities and take necessary action in respect thereof;(j)exercise the powers as may be necessary in the ordinary course of business;(k)discharge such other functions, and exercise such other powers, as may be delegated by the Board.
