5.
| (1) Subject to the provisions of subsection (3), the general administration and management of the affairs of the Corporation, shall subject to the rules of the Corporation, be vested in a Board of Management (hereinafter referred to in this Act as the '"Board") consisting of office-bearers and such other persons as may be elected in accordance with such rules. |
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| (2) Mr. Upali Samararatne, the founder of the Foundation, shall be the President for life, of the Corporation unless he resigns from the said office. |
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| (3) The Board of Management of the Foundation holding office on the day preceding the date of commencement of this Act, shall be the first Board of the Corporation. |
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Sri Lanka Consolidated Acts