(1) The members of the Board other than the Executive Secretary, appointed under section 11 of this Decree, shall hold office for a period of three years and shall on the expiry of that term be eligible for re-appointment.

(2) A member of the Board other than the Executive Secretary may, at any time, by notice in writing addressed to the Commissioner resign his office, and the National Redemption Council may if it thinks fit at any time terminate the appointment of any such member.