4.
| (1) The affairs of the Institute shall, subject to the rules for the time being of the Institute, be administered by a Governing Board (hereafter in this Act referred to as the " Board ") consisting of-
| | (a) the Chairman who shall be a Deputy Governor of the Central Bank of Ceylon nominated by the Governor of that Bank; | | |
| | (b) the Vice-Chairman who shall be an Assistant to the Governor of the Central Bank of Ceylon nominated by the Governor of that Bank ; and | | |
| | (c) ten other members of the Board-
| | | (i) two of whom shall be employees of the Bank of Ceylon nominated by that Bank; |
| (ii) two of whom shall be employees of the People's Bank nominated by that Bank ; |
| (iii) two of whom shall be nominated by banking institutions which are commercial banks other than the Bank of Ceylon and People's Bank, such two members being employees of such banking institutions; |
| (iv) one of whom shall be nominated by the banking institutions which are not Commercial banks by agreement amongst such banking institutions, such member being an employee of any such banking institution ; and |
| (v) three of whom shall be elected by the Fellows and Associates of the Institute from amongst the Fellows and Associates. |
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| (2) For a period of two years from the date of commencement of this Act, the governing body of the Bankers' Training Institute (Ceylon) on the date of commencement of this Act, shall notwithstanding anything to the contrary in subsection (1) be the Board of the Institute. |
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Sri Lanka Consolidated Acts