4.
| (1) The management, control and administration of the Corporation shall, subject to the provisions of the this Act and the rules in force for the time being of Corporation, vest in a. governing Council (hereinafter referred to as "the Council") consisting of such number of governors elected from among the members in accordance with the rules in force for the time being of she Corporation. |
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| (2) The members of the governing Council of the Foundation whose names are set out in the Schedule to this Act, and holding office on the day preceding the. date of commencement of this Act, shall be deemed to be the members of the first Council of the Corporation. |
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Sri Lanka Consolidated Acts