In case the post of the executive director (Specialized Companies Division) is vacant or he/she is unable to perform his/her functions or he/she is unavailable to exercise the powers and functions delegated to him/her through this notification shall stand delegated to the commissioner who shall have the authority to exercise all powers so delegated. Any pending proceedings under the said modified notifications of delegation of power shall stand transferred to the delegated authority provided in this notification forthwith who shall proceed with the matter as it stands prior to the coming into the effect of this Notification, the SECP added.