Term of office, vacancies and allowances payable to the members of the Board.

(1) Save as provided in this section :— (a) The term of office of the chairperson or a member of the Board shall be three years from the date of nomination. (b) An ex-officio member shall continue on the Board till he ceases to hold the office by virtue of which he is a member (c) The term of a member nominated to fill a casual vacancy shall continue for the remainder of the term of the member in whose place he has been nominated. (2) Notwithstanding anything contained in this section, an outgoing member shall, continue in office until another person is nominated as a member in his place. (3) The members of the Board, other than the employees of the Institute, shall be entitled to the reimbursement of expenditure, payment of allowances and sitting fees as may be provided in the regulations.