(1)If the Authority is of opinion that in the public interest or in the interest of an insurer, or hi s policy-holders it is necessary so to do, it may, from time, to time, by order in writing, appoint, with effect from such date as may be specified in the order, one or more persons to hold office as additional directors of the insurer:Provided that the number of additional directors so appointed shall not, at any time, exceed five or one-third of the maximum strength fixed for the Board by the articles of association of the insurer, whichever is less.
