7. (1) Subject to the rules and regulations made under this Ordinance, the general direction and administration of the affairs and business of the Corporation shall vest in a Board of Directors which may exercise all powers and do all acts and things which may be exercised or done by the Corporation.
(2) In discharging its functions, the Board shall act on commercial considerations having due regard to public interest generally and shall be guided on question of policy by such instructions as may be given to it by the Government from time to time.
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