10.
| (1)The first Board of Directors to be constitute the Bank shall consist of nominated directors nominated in the manner specified in section 8 of this Act, and such Board shall continue to function as the Board of Directors of the Bank until such time as the election of elected directors under section 9 at an Annual General meeting of the shareholder be held at any time thereafter . |
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| (2) The provisions of section 8 relating vacation of office by death, resignation or removal and the temporary absence of a nominated member of the Board, shall apply and in respect of the members of the first Board of Directors. |
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Sri Lanka Consolidated Acts