5.
| (1) The administration and management of the affairs of the Bank shall be vested in a Board of Directors (hereinafter referred to as the " Board'') consisting of
| | (a) two persons nominated by the Monetary Board, one of whom shall be the Chairman of the Board; | | |
| | (b) the Chairman of the National Gem and Jewellery Authority established by the National Gem and Jewellery Authority Act, 1993 ; | | |
| | (c) a person elected by the shareholding financial institution ; and | | |
| | (d) a person nominated by the Monetary Board, from among persons engaged in the gem industry or the jewellery industry. | | |
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| (2) The provisions of the Schedule to this Act shall have effect in relation to the term of office of the directors of the Board, the remuneration payable to such directors, meetings of the Board and the seal of the Bank. |
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| (3) The Board shall exercise, perform and discharge all powers, duties and functions conferred or imposed on, or assigned to, the Bank by this Act. |
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Sri Lanka Consolidated Acts