Section - 9 - Board to be in Control of General Policy of Corporation.

    (1) The Board shall, subject to the provisions of this Decree, have general control of the management of the Corporation on matters of policy.

    (2) The Corporation shall have a Managing Director appointed by the Council, and shall hold office upon such terms and conditions as the Council may determine.

    (3) The Managing Director appointed under subsection (2) of this section shall be a person who has a degree in any related fields of engineering with proven professional experience or a person with at least five years experience in business administration.

    (4) Where the office of the Managing Director becomes vacant the Board shall notify the Commissioner thereof and the Commissioner shall in turn notify the Supreme Military Council of the occurrence of the vacancy.

    (5) Where the Managing Director is incapacitated from the performance of his functions under this Decree, the Board may, subject to subsection (4) of section 6 of this Decree, authorise any employee of the Corporation to perform those functions for the duration of the incapacity.

    (6) Subject to the provisions of this Decree, the Managing Director shall be the Chief Executive of the Corporation and shall, subject to the general control of the Board on matters of policy, be charged with the direction of the day-to-day business of the Corporation and of its administration, organisation and control of all the employees of the Corporation.

    (7) Subject as aforesaid the Managing Director may delegate to any employee of the Corporation or to any other person any of his functions under this Decree and may impose such conditions with respect to the exercise of such delegated functions as he may think fit:

    Provided that nothing in this subsection shall be construed so as to absolve the Managing Director from ultimate responsibility for any act done by any person in pursuance of any such delegation.