(1) A member of the Board other than the ex-officio members shall hold office for a period not exceeding three years and are eligible for re-nomination or re-appointment as the case may be.

(2) A member of the Board other than the ex-officio members may resign his office by notice in writing addressed to the Council.

(3) Members of the Board may be paid such allowances as the Board may in consultation with the Secretary for Finance determine.