Section 25. Executive Committee.

(1) There shall be an Executive Committee of a State Warehousing Corporation which shall consist of-- (a) the Chairman of the board of directors; (b) the managing director; and (c) three other directors chosen in the prescribed manner, of whom one shall be a director referred to in clause (a) of sub-section (1) of section 20. (2) The Chairman of the board of directors shall be the Chairman of the Executive Committee. (3) Subject to any general or special directions as the board of directors may, from time to time, give, the Executive Committee shall be competent to deal with any matter within the competence of the State Warehousing Corporation.