(1) Subject to subsection (2), where any functions or powers are conferred upon or vested in the Authority by or under this Act or any other enactment, the Authority may delegate such functions or powers wholly or partly to the Executive Director.
(2) The Authority is not authorised to delegate—
(a) the power of delegation;
(b) the approval, suspension or revocation of licences except in the case of delegation to the Executive Director of the function of registration of insurance agents, insurance brokers, insurance salespersons, insurance loss adjusters, insurance incorporated cells and international private mutual funds; (Amended by Act 7 of 2016)
(c) the registration of pension funds. (Inserted by Act 7 of 2016)
(3) The delegation of any functions under this section may be amended or revoked by the Authority.