11.
| (1) The administration, management and control of the affairs of the Foundation shall be vested in a Board of Management (in this Part of this Act referred to as "the Board ") consisting of not more than eleven members to be appointed by the Minister, |
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| (2) The Board shall be consist of"
| | | (b) the Director of the Foundation ; | | |
| | (c) a representative of the University Grants Commission ; | | |
| | (d) a representative of the National Institute of Education ; | | |
| | (e) a representative of the Sri Lanka Association for the Advancement of Science ; | | |
| | (f) a representative of the Institute of Engineers, Sri Lanka; | | |
| | (g) a representative of the Ministry of the Minister in charge of the subject of Finance ; and | | |
| | (h) not more than four other persons who have gained eminence in the fields of science, education, research, management or administration. | | |
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| (3) A member of the Board other than the Director of the Foundation may resign his office by letter addressed to the Minister and such resignation shall he effective from the date on which it is accepted by the Minister. |
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| (4) The Minister may remove a member of the Board (other than the Director of the Foundation) from office, without assigning any reason therefor. |
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| (5) Subject to the provisions of subsections (3) and (4), the term of office of a member of the Board shall be three years. |
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| (6) Where a member of the Board dies, resigns or is removed from office, the Minister shall, having regard to the provisions of subsection (2), appoint another member in his place |
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| (7) A member of the Board appointed under subsection (8) shall hold office for the unexpired period of the term of office of the member whom he succeeds. |
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| (8) A member of the Board vacating office by effluxion of time shall be eligible for re-appointment. |
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| (9)
| | (a) The quorum for any meeting of the Board shall be five. | | |
| | (b) The Chairman shall preside at every meeting of the Board, in the absence of the Chairman from any meeting of the Board, a member chosen by the majority of the members present at such meeting shall preside at such meeting, | | |
| | (c) The Chairman of any meeting of the Board shall in addition to his own vote, have a casting vote. | | |
| | (d) The Board .shall meet at least once every month. | | |
| | (e) Subject to the provisions of this section, the Board may regulate the procedure in regard to its meetings and the conduct of business at such meetings. | | |
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| (10) The members of the Board shall be paid remuneration at such rates as may be determined by the Minister with the concurrence of the Minister in charge of the subject of Finance. |
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| (11) The Board may act notwithstanding any vacancy among its members and no act or proceeding of the Board hall be deemed to be invalid by reason only of the existence of a vacancy in the Board or any defect in the appointment of a member of the Board. |
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Sri Lanka Consolidated Acts