3 - Assume the general and daily oversight of the programmes and performance of the channel. 4 - Found companies, alone or with others, acquire existing com- panies or participate in them. 5 - Cooperate and contract with other parties - Arab and foreign - that work in the same field, for the production, marketing and exchange of programmes and experience. 6 - Manage, invest and employ the revenue generated by the Cor- poration in line with the objective of its establishment. 7 - Conclude financing or borrowing contracts, with domestic and foreign sources, necessary to finance the establishment and operation of the satellite channel, and the Corporation’s investment projects. Article 3: A Board of Directors, consisting of a chairman, deputy chairman and a number of members shall be responsible for managing the Corpo- ration. A resolution of the Cabinet shall be issued for their appointment and to determine their remuneration. Article 4: The Board of Directors shall be responsible for drawing up the general policy for the Corporation and to supervise its implementation. It shall be accountable for its actions before the Cabinet. Article 5: The Board of Directors shall have the powers necessary to manage the affairs of the Corporation, and to engage in the actions required for the proper carrying out of its function. It may take resolutions it deems necessary to achieve its purposes. The resolutions of the Board shall come into effect from the date of their issuance. Resolutions related to the following matters shall be excluded from the above and shall only take effect after approval by the Cabinet: 1 - The Corporation’s obtaining of any loans, whether local or for- eign.
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