Officers and servants of the Corporation.

(1) The Government shall appoint a Managing Director and a Chief Accounts Officer of the Corporation.

(2) The Corporation may appoint such other officers and servants, subordinate to the officers mentioned in sub-section (1), as it considers necessary for the efficient performance of its duties and functions, subject to the approval of the Government.

(3) The conditions of appointment and service of the Managing Director, the Chief Accounts Officer and other officers and servants of the Corporation shall be such as may be prescribed.