Amendment status not verified — confirm the current text below against the official source.
Managing director.- (1) The State Government shall appoint one of the directors, being an officer of the State Government, as managing director who shall hold that office during its pleasure. (2) The managing director shall- (a) be its chief executive officer; (b) be responsible for the operational management of the Corporation and implementation of the general policies approved by the Board; (c) perform such duties as the Board may, by regulations or otherwise, assign to him; (d) receive such salary and allowances and be governed by such terms and conditions of service as may be determined by the Board and approved by the State Government.