8.
| (1) The Corporation shall have a Board of Directors consisting of five members appointed by the Minister one of whom shall be so appointed in consultation with the Minister of Finance. |
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| (2) A person shall be disqualified from being appointed or continuing as a Director and in that event shall ipso facto cease to hold office,
| | (a) if he is a Senator or a Member of Parliament, or | | |
| | (b) if he, directly or indirectly, by himself or by any person on his behalf or for his use or benefit, holds or enjoys any right or benefit under any contract other than a contract of employment made by, with or on behalf of the Corporation, or | | |
| | (c) if he has any such financial or other interest except as an employee of the Corporation as is likely to affect prejudicially the discharge by him of his functions as a Director. | | |
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| (3) Where a Director is, by reason of illness, infirmity or absence from Ceylon, temporarily unable to perform the duties of his office, the Minister may appoint any person to act in his place. |
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| (4) The Minister may, without assigning a reason, remove any Director from office. The removal of any Director from office by the Minister shall not be called in question in any court. |
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| (5) A Director who is not a public officer may resign the office of Director by letter addressed to the Minister. |
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| (6) Subject to the provisions of subsection (4) and subsection (5), the term of office of the Board of Directors shall be three years: |
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Sri Lanka Consolidated Acts