7. (1) The Board shall consist of the following Directors to be appointed by the Government, namely:-
(a) the Chairman;
(b) the Managing Director;
(c) three officials; and
(d) two non-officials.
(2) The Chairman shall be appointed from amongst persons who are not in the service of the Republic.
(3) The Chairman, Managing Director and other Directors shall hold office for such period and on such terms and conditions as the Government may determine.
(4) The Government may, at any time, terminate the appointment of the Chairman, Managing Director or any other Director without assigning any reason.
(5) The Chairman, Managing Director or any other Director may, at any time, resign his office by notice in writing addressed to the Government:
Provided that no resignation shall take effect until it has been accepted by the Government.