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Form of articles of association.
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11.—(1) The articles of association of the Corporation shall be in such form consistent with this Act as may be approved of by the Minister with the consent of the Minister for Finance and, where appropriate, the consent of the Minister for the Public Service.
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(2) The articles of association of the Corporation shall provide that—
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(a) the number of directors (including the chairman) shall not be more than nine;
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(b) the chairman and the other directors (other than the managing director) shall be appointed and may be removed from office by the Minister;
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(c) each director (other than the managing director but including the chairman) shall be appointed for a period not exceeding five years which appointment may be renewed by the Minister;
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(d) the remuneration of the chairman and the directors (other than the managing director) shall be determined by the Minister with the consent of the Minister for the Public Service;
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(e) the directors shall, with the consent of the Minister, appoint a managing director on such terms and conditions as shall be approved of by the Minister after consultation with the Minister for the Public Service;
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(f) no person shall be appointed auditor of the Corporation without the approval of the Minister given with the consent of the Minister for Finance.
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