(1) An auditor shall be elected and his remuneration fixed by the Board in consultation with the Minister.

(2) If any casual vacancy occurs in the office of auditor, the vacancy shall be filled by the Board in consultation with the Minister.

(3) An auditor shall be eligible for re-election.

(4) Without prejudice to the foregoing provisions of this section, the Minister may at any time, in his absolute discretion request the Auditor-General or such other auditors as the Minister may appoint, to examine and report on the accounts of the Bank and the Bank shall provide all necessary and proper facilities therefore.