5. The Director-General of the Authority

The Director-General of the Authority shall be changed with the administration and management of the affairs of the Authority.

The Authority shall appoint a Director-General, who shall be a person having qualifications and experience in the field of accountancy, law or finance relating to insolvency and the Director-General shall be the Chief Executive

There may be appointed, by the Authority, such other officers and servants as may be necessary as set out in the First

The Director-General shall, subject to the general direction and control of the Authority, administer the affairs and transaction of business of the office of the Authority, and undertake the administration and control of the employees of the Authority.

On the approval of the Authority, the Director-General may delegate to any employee any power or function conferred or imposed on or assigned to him by this Act and such employee shall exercise and perform such power or function, subject to the special directions of the Director-General.

The Director-General shall be paid such remuneration as may be determined by the Authority, from time to time, with the concurrence of the Minister assigned the subject of Finance and shall not be diminished during his term of