3. Section 5 of the principal enactment as amended by Law No. 51 of 1973, is hereby further amended by the repeal of subsection (2) of that section, and the substitution therefor, of the following new subsection:
| " (2) The board shall consist of
| | (a) five members appointed by the Minister, each of whom has distinguished himself in science or industry or is otherwise specially qualified in relation to some aspect of the work of the Institute ; | | |
| | (b) one member nominated by the Minister in charge of the subject of Finance ; | | |
| | (c) the chief executive or his nominee, of any one of the following institutions :
| | | (i) the National Development Bank of Sri Lanka, established by the National Development Bank of Sri Lanka Act, No 2 of 1979. |
| (ii) the Development Finance Corporation of Ceylon, established by the Development Finance Corporation of Ceylon Act (Chapter 163) ; |
| (iii) any other lending institution which provides financial assistance (or the purpose of industrial development, nominated by the Minister ; and |
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| | (d) the following two ex officio members
| | | (i) the person for the time being holding office as Secretary to the Ministry under which the Institute functions, or such other officer of such Ministry as the Secretary to the Ministry may appoint; and |
| (ii) the person for the time being holding office as the director of the Institute.". |
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Sri Lanka Consolidated Acts