(1) The governing body of the Board (the governing body) consists of the members referred to in section 11.
(2) All decisions relating to the business or affairs of the Board must be made by or under the authority of its governing body in accordance with the most recent statement of intent of the Board presented to the House of Representatives under section 19.
(3) The governing body has all the powers necessary for managing, and for directing or supervising the management of, the business and affairs of the Board.