Section 29: Amendment of section

Section 3 of the Principal Act is amended by inserting new subsections “(3)”, “(4)” and Amendment of section “(5)” -
“(3) There shall be established for the corporation, a Governing Council, an Executive Board, and a Management Team, as may be required, which bodies shall be appointed by the President on the recommendation of the Minister responsible for Finance, for the good governance, administration, strategic direction, and day to day management of the corporation.
(4) The corporation shall develop, adopt and, as appropriate from time to time, amend, revoke or supplement appropriate regulations, codes, internal guidelines and procedures consistent with this Act, in furtherance of the corporation’s objects and in connection with the performance of any of the corporation’s functions under this Act, including without limitation a manual of policies and procedures.
(5) The corporation’s initial regulations, internal guidelines and procedures, and any subsequent material change or supplement thereto shall be adopted only after consultation with the Minister responsible for Finance.”