(1) If any body is appointed to operate the fund in accordance with section 24 of the Act, such body may exercise the rights vested in the fund in accordance with the Act and these regulations.
(2) The board of directors of the body designated in accordance with section 24 of the Act and the officer acting as the executive director or executive head of that body shall use the powers granted to the committee under section 6 of the act or the executive director appointed under section 21 respectively for the operation and management of the fund.
(3) According to Section 24 of the Act, the body designated according to the prevailing law shall keep separate records and accounts of the transactions carried out by it and the amount accumulated in the fund in accordance with the Act and this regulation, investments made by the fund, income and expenses of the fund, and accounts of transactions and related details.
(4) According to section 24 of the Act, the designated body may assign or designate its employees to perform the functions of the fund as well.
(5) "The central office of the body specified in accordance with section 24 of the Act shall act as the head office of the fund and the office under such body shall act as the office under the head office of the fund."