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Articles of association.
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5.—(1) The articles of association of the Company shall be in such form consistent with this Act as may be approved of by the Minister.
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(2) The articles of association shall provide—
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(a) that the number of the directors of the Company (including the chairman) shall be not more than seven,
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(b) that the chairman and other directors shall be appointed, and may be removed from office, by the Minister with the consent of the Minister for Industry and Commerce,
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(c) that the remuneration of the chairman and other directors shall be determined by the Minister, and
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(d) that no person shall be nominated as auditor of the Company without the approval of the Minister.
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