27.
| (1) The Director shall be the chief executive of the Corporation. |
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| (2) The Minister shall in consultation with the Board and have regard to the qualification and the scheme of recruitment specified under subsection (3) appoint a Director of the Corporation. |
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| (3) The Board shall with concurrence of the Minister, specify the qualifications and the scheme of recruitment for the post of the Director of the Corporation. |
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| (4) The Director of the Corporation shall hold office for a period of five years calculated from the date of his appointment. |
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| (5) The Minister may, on recommendation of the Board, made after due inquiry, remove the Director from office"
| | (a) if he becomes permanently incapable of performing his duties, or | | |
| | (b) if he has done any Act which is manifestly opposed to the objects and interests of the Corporation. | | |
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| (6)The Director of the Corporation shall be paid such remuneration as may be determined by the Minister with the concurrence of the Minister in charge of the subject of Finance. |
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| (7) The provisions of subsection (2) shall not apply to, or in relation to, the appointment of the first Director of the Corporation. |
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Sri Lanka Consolidated Acts