8.
| (1) The corporation shall have a Board of Directors consisting of such number of persons as is fixed by the Incorporation Order and appointed by the Minister. |
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| (2) A person shall be disqualified from being appointed or being a member of the Board if he is or becomes a Member of Parliament. |
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| (3)
| | (a) Every member shall, subject to the provisions of subsections (4) and (5), hold office for a period of three years. | | |
| | (b) Where a member of the Board appointed under this section, dies or resigns or is removed from office, the Minister may appoint another person to be a member in place of the member who dies or resigns or is removed from office. | | |
| | (c) Any member of the Board appointed under paragraph (b) shall, unless he earlier resigns or vacates office by death or removal, hold office for the unexpired period of the term of office of the member whom he succeeds. | | |
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| (4) Any member may resign from the Board by letter to that effect addressed to the Minister. |
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| (5) The Minister may, if he considers it necessary to do so, without assigning any reason therefor remove any member of the Board. |
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| (6) Where a member of the Board is, by reason of illness or other infinity or absence from Sri Lanka, temporarily unable to perform the duties of his office, the Minister may appoint any other person to act in his place. A Director who vacates office by effluxion of time shall be eligible for reappointment. |
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| (7) A member of the Board who is in any way directly or indirectly interested in a contract made or proposed to be made by the corporation shall disclose the nature of his interest at a meeting of the Board and such disclosure shall be recorded in the minutes of such Board, and the member shall not take part in any determination or decision of the Board with respect to that contract. |
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Sri Lanka Consolidated Acts