The Managing Committee consists of the President, Vice President and twelve ordinary members. The President and Vice-President are elected through a ballot procedure which is initiated around the month of March each year. The twelve ordinary members are also elected. Following the election, the new Managing Committee takes the office on the day succeeding the day of the Annual General Meeting (AGM) of the Chamber. Every Managing Committee retires at the next succeeding Annual General Meeting, when the new Managing Committee is constituted. The President presides at all the meetings of the Managing Committee and has general supervision functions over the working of the Chamber and endeavors to promote the prosperity and welfare and increase the usefulness of the Chamber to its members. In the absence of the President, the Vice-President performs the duties of the President. The Managing Committee meets on the second Tuesday of every month.