Board of Directors

(1) The general supervision, control and administration of the affairs and business of the Corporation shall be vested in a Board of Directors constituted in accordance with section 5 of this Act. (2) The Board may exercise all the powers and do all the acts which may be exercised or done by the Corporation. (3) The Board may, with the approval of the Minister responsible for Finance, utilise the funds of the Corporation for the purpose of defraying any expenditure incurred in the management of the affairs of the Corporation, the transaction of the business of the Corporation, the remuneration of the directors and employees of the Corporation, and the exercise of the powers and the performance of the duties of the Board under this Act. (4) The Board shall take all such measures as may be necessary to ensure that any financial assistance rendered by the Corporation to any enterprise is utilised for the purpose for which it is given. (5) The Corporation shall not make an investment in or otherwise transact business with an enterprise in which a 7 director of the Corporation is a partner, director or shareholder, or is in any other way directly or indirectly interested, unless the transaction is unanimously approved by the other directors