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(1) A member of the Board other than the Director-General shall hold office for four years and shall be eligible on the expiration of that period for a re-appointment.

(2) A member of the Board other than the Director-General may resign his office in writing addressed to the President or may be removed from office by the President for sated reasons.

(3) Members shall be paid such allowances as may be determined by the Minister in consultation with the Minister for Finance.