Board of Directors
8. (1) The Board shall consist of not more than five Directors to be appointed by the Government.
(2) Of the Directors appointed under sub-section (1), at least two shall be whole time Directors.
(3) A Director shall-
(a) hold office during the pleasure of the Government but not for a period exceeding five years and may be reappointed for such further period or periods as the Government may, from time to time, specify;
(b) receive such salary and allowances as the Government may determine; and
(c) perform such duties as are assigned to him by this Act or as may be prescribed.
(4) A casual vacancy in the office of a Director shall be filled in by the appointment of another Director who, subject to the provisions of sub-section (3), shall hold office for the unexpired period of the term of his predecessor.
(5) Every person appointed as Director shall divest himself of any directorship or other interest held by him in any firm, company or concern which has dealings with the Corporation.