(1) There is created a public body to be known as the Enterprise Zone Commission. The Commission shall be within, and shall constitute a subsidiary entity wholly administered and operated by the Economic Development Authority established in title 29, chapter 21, Virgin Islands Code; and
(2) The Commission shall be organized as a committee of the Economic Development Authority and shall be composed of five members of the Economic Development Authority Board of Directors established under this title as appointed by the Chairman of the Economic Development Authority.