Section 14: Appointment of the Managing Director and Executive Directors.

(1) There shall be appointed for the Corporation-
(a) a Managing Director, who shall be the chief executive officer of the Corporation and shall be responsible for the management of the Corporation; and
(b) two Executive Directors who shall discharge such duties as may be assigned to them by the Board or the Managing Director.
(2) A person appointed as the Managing Director or an Executive Director shall not, while holding that office, hold any other office or be a director in any corporation, company, or any other establishment without prior approval of the Board.
(3) The Managing Director and Executive Directors appointed under this section shall hold office for a term of five years and may be eligible for reappointment for a further term of five years and no more.
(4) Subject to subsection (3), the terms and conditions of service, including remuneration and allowances of the Managing Director and Executive Directors shall be as approved by the Board.