Rules of the EDC

(1) The Board may from time to time make rules, not inconsistent with this Act, for all or any of the following purposes, (a) regulating the proceedings of the Board; (b) providing for the custody of the property of the EDC and the custody and use of the common seal of the EDC; (c) regulating the terms and conditions of employment of persons appointed under section 17 of this Act; (d) providing for such other matters as may be necessary or expedient for the carrying out of the functions of the EDC. (2) Notice in writing of every proposed resolution to make rules under this section or for the amendment or revocation of any rule so made, including a copy of the proposed rules, amendment or revocation, shall be given to every member of the Board not less than twenty-one days before the meeting at which the proposal is to be adopted, but an inadvertent failure to comply with this subsection shall not invalidate the amendment or revocation of any rule at that meeting. Appointment and