4.
| (1) The management and administration of the affairs of the Corporation shall subject to the rules in force for the time being of the corporation, be vested in a Board of Directors (hereinafter referred to as the "Board") consisting of not more than five members to be elected by the general body in accordance with the rules of the Corporation. |
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| (2) The Board may delegate any of its functions to an Executive Council consisting of the President, Director-General, Secretary and Treasurer and not more than four other members of the Board, elected or appointed in accordance with the rules of the Corporation, and such Council shall discharge such functions in accordance with the directions of the Board. |
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| (3) The first Board of the Corporation shall be the Board of Directors of the Foundation consisting of the members whose names are specified in the schedule hereto and holding office on the day immediately preceding the date of commencement of this Act. |
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Sri Lanka Consolidated Acts