8. (1) The general direction and superintendence of the affairs and business of the Bank shall be entrusted to a Board of Directors to be constituted in accordance with the provisions of this Ordinance and such Board may exercise all such powers and do all such acts and things as may be exercised or done by the Bank. ¹[(2) The Bank, in discharging its functions, shall act prudently with due regard to the public interest.] (3) Until the first Board is constituted, the Managing Director shall exercise all powers and do all acts and things as may be exercised or done by the Board.