4. Management of the affairs of the Corporation

The management, control and administration of the affairs of the Corporation shall, subject to the provisions of this Act and of the rules of the Corporation made under section 7, be administered by a Board of Management consisting of such number of office bearers as may be provided for in such rules and elected in accordance therewith.

The first Board of Management of the Corporation shall consist of the members of the Executive Committee of the Foundation holding office on the day immediately preceding the date of commencement of this Act and who shall hold office until a new Board of Management is elected under the rules of the Corporation.