Central Government directions can bind Public Debt Management Agency in exercising debt management functions and require management of government securities. The Central Government may issue written policy directions to the Public Debt Management Agency, its determination of what constitutes policy being final; the Agency must be given a reasonable opportunity to be heard and is bound by such directions in exercising its powers or discharging its functions. The Chapter creates an Agency to manage public debt, directs its functions-including publishing debt information, trading and issuing Government securities and making payments to holders-and contemplates a Board governance structure and tax exemption for the Agency.