7.
| (1) The affairs of the Corporation shall, subject to the rules in force for the time being of the Corporation, be administered by a Board of Directors consisting of the President, Vice-President, Secretary and Treasurer and such other person or persons as may be elected or appointed in accordance with the rules for the time being of the Corporation. |
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| (2) The Board of Management holding office on the date of commencement of this Act shall be the first Board of Directors of the Corporation. |
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| (3) The Board of Directors may from time to time appoint one or more of the members of the Board to be the holder of any executive office including the office of Managing Director or Manager on such terms and for such period as they may determine. The Board may also appoint any person as Technical Director on such terms and conditions as the Board thinks fit but no such appointee shall vote at any meetings of the Board unless by the terms of appointment the appointee is given the right to vote. Any person appointed to an executive office including the office of Technical Director may be removed by the Board at any time. |
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| (4) The Board of Directors may entrust to and confer upon any member of the Board appointed to hold any executive office or the office of Technical Director any of the powers exercisable by the Board of Directors upon such terms and conditions and for such period as they may think fit and either collaterally with or to the exclusion of their own powers and may from time to time revoke, withdraw, alter or vary all or any of such powers. |
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| (5) Any member of the Board of Directors appointed to any executive office and the Technical Director shall receive such remuneration as the Board of Directors may determine. |
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Sri Lanka Consolidated Acts