Chief Executive

(1) There shall be a Chief Executive, by whatever designation called, of every society, to be appointed by the board and he shall be a full time employee of such society. (2) The Chief Executive shall be a member of the board and of the committees as may be constituted under the provisions of the bye-laws. (3) Where the Government has subscribed to the extent of more than one half of the share capital of a society, it shall be obligatory on such a society to seek prior approval of the Government to the appointment of the Chief Executive.