.-(1) The general superintendence, direction and management of affairs and business of the Small Industries Bank shall vest in the Board of Directors which may exercise all powers and do all such acts and things as may be exercised or done by the Small Industries Bank and are not by this Act expressly directed or required to be done by the Small Industries Bank in general meeting.

(2)

The Board may direct that any power exercisable by it under this Act shall also be exercisable in such cases and subject to such conditions, if any, as may be specified by it, by the Chairman and Managing Director or the whole-time Directors.

(3)

Subject to the provisions of this Act, the Board in discharging its functions shall act on business principles with due regard to public interest.