[10. Board of Management of the Corporation.--(1) There shall be a Board of Management of the the Corporation which shall consist of the following members, namely:--
(i) the Vice-President of the General Council, who shall be the Chairman;
(ii) three members of the General Council, to be nominated by the Central Government from among the members referred to in clause (ii) of sub-section (4) of section 3;
(iii) the member of the General Council, referred to in clause (iii) of sub-section (4) of section 3;
(iv) one member of the General Council, to be nominated by the Central Government from among the members referred to in clauses (ix), (x), (xi), (xii) and (xiii) of sub-section (4) of section 3;
(v) two members of the General Council, to be nominated by the Central Government from among the members referred to in clause (xiv) of sub-section (4) of section 3;
(vi) two members of the General Council, to be nominated by the Central Government from among the members referred to in clause (xv) of sub-section (4) of section 3;
(vii) one member of the General Council, to be nominated by the Central Government from among the members referred to in clauses (xvi) and (xvii) of sub-section (4) of section 3;
(viii) the managing director.
(2) The Vice-Chairman of the Board shall be nominated by the Central Government.
(3) Subject to the general control, direction and superintendence of the General Council, the Board shall be competent to deal with any matter within the competence of the Corporation.
(4) The Board shall meet at such times and at such places and shall observe such procedure in regard to transaction of business at its meetings (including the quorum at meetings) as may be provided by regulations made by the Corporation under this Act.
(5) The confirmed minutes of every meeting of the Board shall be laid before the General Council at its next following meeting.]