Section 7: Delegation of functions and powers

7. Delegation of functions and powers (1) The Commission may delegate to the Chief Executive such functions and powers under this Act as may be necessary for the effective administration of this Act, other than the power to make FSC Rules. (2) The Chief Executive may delegate any of the delegated functions and powers under subsection (1) to an employee of the Commission, other than the power to order an investigation under this Act or any other enactment. (3) In the discharge of his functions and exercise of his powers delegated under subsection (1) or (2), the delegate shall comply with any direction given by the Commission or by the Chief Executive, as the case may be. (4) A delegated function or power, when discharged or exercised by the delegate, shall, for the purposes of this Act, be taken to have been discharged or exercised by the Commission or by the Chief Executive, as the case may be. PART III – REGULATION OF PRIVATE PENSION SCHEMES Sub-Part A – Status and Licensing of Private Pension Schemes