(1) The general superintendence, direction and management of the affairs and business of the Corporation shall vest in a Board of directors who may be exercised all the powers and discharge all the functions which may be exercised or discharged by the Corporation other than those which are expressly directed or required by this Act to be done by the Corporation in general meeting.
(2) The Board in discharging its functions shall act on business principles, regard being had to public interest.