5. Management of the affairs of the Foundation
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The management, administration and control of the affairs of tht Foundation shall subject to the ruls.of the
Corporation be veSted in a Board consisting of not more than nine members appointed by the general body in acc-ordance with the rules of the Foundation.
The Board may delegate all or any of its functions to an Executive Council consisting of at least Five members of the Board ineluding the President, Vice-President, Sec-retary and Treasurer of the Corporation and such Council shall carry out its functions in accordance with the direc-tions of the Board.
The first Board of the Foundation shall be the Board of Directors of the Association holding office on the day preceding the date of commencement of this Act, and whose names are specified in the Schedule to this Act.