Amendment status not verified — confirm the current text below against the official source.
A,4.,,ilnr,ti an wn o[ qfice ol Maaaslrg A,Ddo( qn cgfrlnns al seMice ol nominalod Olt dot, - (l) Tha uanaglng oirector of tho Colpq-albn shall ba afPolnbd by tho Ciovsnmonl aad shaf haro 6ucfr qualiricalirE as rnry ba pG.ctlb€d. (2) nlo litana{ing DiEe. ol lhe Co.poratlon shall hold offcs to. strdl lem as lhe Gorstxnonl may spocify in lhis behalr. (3) Tho Di€clors shat bs entiU€d to dtbw such allotYanc6 as may.be pro3crlbod for tha purpose of attonding lha meolings ot the Co.poratirn or of any comnittee tllereol or in dcirE or br pertormitE such s,!fk or ,undions ol the CoQo.ation which tnay be specifically entrusted to thern by the Corporalbn o. by any cornmittee th€reol, as may bo prsscttad. T. riaelirys oI tp W1 - Tho Cqporatlql srtat mact d ardl ffrBs and plac6 rmd rhatl obs.rve arch rul6a ol proaadra h ltgsd b tho tranracdoar o{ ilr hjainoss as mey bo p.r,vldd b, ogulatbna made undcr rhk Ad. L Apxi menl o, otrrcors and smployees - (t) Th€ Cdporatbn tnay appdnt with th€ applwd ot lh€ Ciovcmment suah nunb€r ot OficorE and drlrolr€G as it co.rsiroB noc6laty, to a$lsl tho Cdpadlrn h thc disdarga d ft3 lunctiorls and dutb3 urxt€t ltis Ad and ths ManEing DiGclo. appoinbd under soctbo 6 shall bo lho Chi€t Execdivg o, up Co.poradm. 4 (2) The Officers aod employees appcnnted under sub-section (1)shall be under lhe administralive control of the Managing Director and he shall be the disciplinary au0lorily to impose any punishment as may be Drescribed on such olficers and emdoyees (3) Tho method o, appointment, salary and allowances and other conditions of servlce ol lhe omcers and the employees appointed under sub-seclion (1) shall be such as may be specified with lie apEoval ol the Govemment by the Corporation. CHAPTER.IV . FUNCIIOI{SANO POWERSOF IHE CORPORATIOT{