(1) There shall be established a Board to be named the Board of the Urban Renewal Authority comprised of the following members-
(a) a Chairman of the Board of the Authority ("the Chairman"), who is at the same time a non-executive director and is not a public officer;
(b) a Managing Director of the Authority ("the Managing Director"), who is at the same time an executive director and is not a public officer;
(c) 2 other executive directors, not being public officers;
(d) not less than 7 other non-executive directors, not being public officers; and
(e) 4 other non-executive directors who are public officers.
(2) All members of the Board of the Authority, including the Chairman, shall be appointed by the Chief Executive for a term not exceeding 3 years.
(3) The Managing Director is, by virtue of holding that office, the Deputy Chairman of the Board of the Authority.
(4) The Board of the Authority shall be the governing and executive body of the Authority and as such shall, in the name of the Authority, exercise and perform the powers and duties as are conferred and imposed on the Authority by, or by virtue of, this Ordinance.
(5) The Managing Director is the administrative head of the Authority. Together with the other executive directors, the Managing Director is responsible, subject to the direction of the Board of the Authority, for administering the affairs of the Authority and, subject to that direction, has such other responsibilities as may be assigned by the Board of the Authority.
(6) The Schedule shall have effect with respect to the Board of the Authority and its members.