S.L. 403.13 Art. 6Administration of the Fund.

(1) The Fund shall be administered by and be under the general control of the Management Committee.

(2) Subject to the provisions of subregulation (1), the

Management Committee shall have the power to appoint officers or agents of the Fund and to grant them such powers or authority as it may deem appropriate. In consultation with the competent authority, the Committee may, for the better fulfilment of its purposes, cause any part of its business to be conducted on its behalf by such body or person and under such arrangements or agreements as it may deem appropriate.

(3) The Management Committee shall not enter into an agreement or arrangement as is envisaged in subregulation (2) in respect of the purpose set out in regulation 3(1)(b), unless there is in force and in a manner satisfactory to the Committee, an agreement among insurers carrying on business of motor insurance, binding on all parties thereto and requiring them to act as insurers concerned; and where any such agreement between insurers ceases to be operative, or to be satisfactory to the Committee, any agreement or arrangement entered into by the Committee under this regulation shall cease to have effect upon notice in writing by the Committee to such person as may lawfully receive notices on behalf of the body with which the arrangement or agreement was made.

(4) Where an arrangement or agreement as is envisaged in subregulation (3) has been entered into by the Committee, and for so long as such arrangement or agreement is in operation, Part III shall have effect if the arrangement or agreement relates to the purpose set out in regulation 3(1)(a) and Part IV shall have effect if the arrangement or agreement relates to the purpose set out in subregulation (1)(b) of the said regulation.

(5) The competent authority may issue Insurance Rules to determine such incidental, supplementary and consequential provisions as appear necessary for the performance of the Management Committee’s functions and conduct of its business under any provisions of these regulations.