(1) The Board shall, subject to the approval of the Minister and upon such terms and conditions as it may determine, appoint an Executive Director.
(2) The Executive Director is the chief executive officer of the Board and shall exercise all the functions entrusted to him or her by the Board.
(3) The Executive Director shall attend all meetings of the Board.
(4) The Executive Director has full authority to manage and direct the business and affairs of the Foundation.