Exercise of authority.
Section 14
SEC. 14. Exercise of authority.—In order to exercise the authority granted to it under this Act, the Monetary Board shall: (a) Prepare and issue such rules and regulations as it considers necessary for the effective discharge of the responsibilities and exercise of the powers assigned to the Monetary Board and to the Central Bank under this Act; (b) Direct the management, operations and administration of the Central Bank and prepare such rules and regulations as it may deem necessary or convenient for this purpose; (c) On the recommendation of the Governor, appoint, fix the remunerations, and remove all officers and employees of the Central Bank, with the exception of the Governor; and (d) Authorize such expenditures by the Central Bank as are in the interest of the effective administration and operation of the Bank.