For section 19 of the principal Act, the following sections shall be substituted, namely:—‘19. Executive Committee.(1)The Board may constitute an Executive Committee of the Board, consisting of—(i)the Chairperson;(ii)Managing Directors;(iii)the directors referred to in clause (c) of sub-section (2) of section 4; and(iv)four directors nominated by the Board from amongst the directors referred to in clauses (d), (e), (f) and (g) of subsection (2) of section 4.(2)The Executive Committee of the Board shall exercise such powers as the Board may entrust to it.”.
