(1) A board of
directors is established as the governing body of the Corporation.
(2) The board consists
of up to 5 members appointed by the Governor.
(3) A person is
eligible for appointment as a member of the board if, in the Minister's
opinion, the person has appropriate qualifications, experience or expertise to
effectively perform the functions of a director of the Corporation.
(4) The Governor may
appoint a director to chair meetings of the board.
(5) The Governor may
appoint an acting director to act in the office of a director and a person so
appointed has, while so acting, all the functions and powers of the director.
(6) An acting director
may act in the office of a director—
(a)
while—
(i)
the director is unable to perform the functions of a
director under this Act; or
(ii)
the office of the director is vacant,
but not on a continuous basis for more than 6 months; or
(b) if
the director is disqualified from acting in relation to a particular
matter—in relation to that matter.
(7) The terms and
conditions of appointment as an acting director will be as determined by the
Governor.
(8) On the office of a
director becoming vacant, a person may be appointed under this section to the
vacant office.