60. Authority to represent and delegation of powers

Subject to and in accordance with such rules, if any, as may be made by the Board in that behalf, the Board may in writing authorise any officer of the Central Bank to represent the Board for any of the purposes of this Act, so however, that the Board shall remain and continue to remain to be responsible for any act or thing done or omitted to be done by such officer in representing the Board under such authorisation.

The Board may in writing delegate to any officer of the Central Bank any of its powers under this Act, so however, that the Board shall remain and continue to be responsible for any act or thing done or omitted to be done by such officer in the exercise of such powers delegated to him.