(1) A member of the Board except the Executive Chairman and the Executive Directors, shall hold office for a period of five years and may on the expiration of that period be eligible for re-appointment.

(2) The Council may terminate the appointment of a member of the Board on grounds of proven misconduct or inefficiency.

(3) A member of the Board may at any time in writing addressed to the Council resign his office.

(4) The remuneration of the Executive Chairman and the Executive Directors and the allowances of the other members of the Board shall be determined by the Council.