I move that the Committee agree with Recommendation No. 1:—
Schedule. Paragraph 4. Before sub-paragraph (b) to insert two new sub-paragraphs as follows:—
(b) that there shall be a managing director of the company, and, subject to the next following subparagraph, the directors of the company shall from time to time appoint one of their body to be managing director of the company;
(c) that the first managing director of the company shall be such one of the directors of the company as the Minister may appoint and shall hold the office of managing director for such period, not exceeding five years, on such terms, and subject to such conditions as the Minister may direct.