Exclusive jurisdiction of Settlement Commission confers customs-officer powers and self-regulated procedures, transferable to Interim Board. Section 127F grants the Settlement Commission the powers of a customs officer and, where a settlement application is allowed to proceed, vests the Commission with exclusive jurisdiction to exercise the relevant customs or central excise officer functions in relation to the case until a specified order is made; the Commission may regulate its own and Bench procedures, and the section provides that those powers will, from the specified future date, be exercised by the Interim Board with the section applying mutatis mutandis.