5.
| (1) The administration, management and control of' the Corporation shall be vested in the Board of Trustees consisting of seventeen members including the Chairman, the Secretary and the Treasurer as provided for in the rules of the Corporation and elected in accordance with the rules in force for the time being of the Corporation. |
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| (2) Notwithstanding anything contained in subsection (1) of this section, Mr. M. Gamini R, Ferando shall be the Chief Trustee of the Devalaya and the Treasurer of the Board of Trustees, who shall hold such offices for life. In the event of a vacancy arising in those offices due to death or otherwise that vacancy shall be filled by the succession of his eldest son or in his incapacity by his eldest brother and so on the paternal succession notwithstanding any thing to the contrary in the rules of the Corporation. |
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| (3) The first Board of Trustees of the Corporation shall be the members of the Board holding office on the day immediately preceding the date of commencement of this Act. |
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| (4) The quorum for a meeting of the Board of Trustee*; shall be four members. |
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Sri Lanka Consolidated Acts