(1)  Subject to the provisions of this Act and the Statutes made thereunder, there shall be an Executive Board of the Institute of Rural Management Anand School which shall, co-ordinate and exercise general supervision over such School.

   (2) The constitution of the Executive Board, selection of its Chairperson, the term of office of its Chairperson and members and its powers and functions shall be such as may be provided by the Statutes.