8.—(1) The Board shall consist of a chairman and a managing director, and such number (not being more than five) of other members as the Government shall from time to time determine.
(2) The Chairman of the Board shall be that member of the Board who, at the time of his appointment to be a member of the Board or subsequently, is appointed by the Government to be such chairman.
(3) The managing director of the Board shall be that member of the Board who, at the time of his appointment to be a member of the Board or subsequently, is appointed by the Government to be such managing director.
