2.—(1) As soon as may be after the passing of this Act a board to be styled and known as the Electricity Supply Board (in this Act referred to as the Board) shall be established in accordance with this Act to fulfil the functions assigned to it by this Act.

(2) The Board shall be a body corporate having perpetual succession and may sue and be sued under its said style and name.

(3) The Board shall consist of a chairman and such number (not being less than two nor more than six) of other members as the Executive Council shall from time to time determine.

(4) The members of the Board shall be appointed by the Executive Council and every person so appointed to be a member of the Board shall hold office for such period not exceeding five years as shall be fixed by the Executive Council when appointing him and every such person shall on the expiration of his term of office be eligible for re-appointment.

(5) The chairman of the Board shall be that member of the Board who at the time of his appointment to be a member of the Board or subsequently is appointed by the Executive Council to be such chairman.

(6) The chairman of the Board shall devote the whole of his time to his duties as such chairman and each of the other members of the Board shall devote the whole or so much of his time to his duties as such member as shall be prescribed by the Executive Council at the time of his appointment.

(7) Every member of the Board shall be paid out of the funds at the disposal of the Board such remuneration and such allowances for expenses as the Executive Council shall F1[from time to time] prescribe.