1. The Authority shall have a Board of Directors formed by a resolution of the Cabinet, provided that the number of its members shall not be fewer than seven (7) members, including the Chairman of the Board, for a term of three (3) years, renewable for similar terms. The resolution shall designate the Chairman of the Board. 2. The Chairman of the Board may issue decisions in exceptional or urgent circumstances in accordance with this Decree by Law and the Relevant Legislation. Such decisions shall be submitted at the first meeting of the Board for approval, rejection, amendment, or settlement of any resulting matters. 3. The Board shall elect from among its members a Vice-Chairman, unless appointed by the Cabinet in the formation resolution. 4. The Vice-Chairman shall replace the Chairman in the latter’s absence or in the event of a vacancy of their position for any reason. 5. The Chairman of the Board may delegate any of their prescribed powers to the Vice-Chairman. 6. The Board may invite persons of expertise and specialization to attend its meetings, without being entitled to vote in decision-making or recommendations.
Interpretation and application must be checked against the official text and current version.