Term of office and vacancies amongst members of Board and allowances, etc.

(1) Save as otherwise provided in this section, the term of office of other members of the Board shall be three years from the date of his nomination; the term of office of an ex- officio member shall continue so long as he holds the office by virtue of which he is a member of the Board. (2) A member shall not be eligible for re-nomination for more than two terms. (3) A member may resign from his office by writing under his hand addressed to the Chairman and his resignation shall take effect from the date it is accepted by the Chairman. (4) Any vacancy in the Board occurring before the next reconstitution or before the expiry of the prescribed period shall be filled up in the same manner as provided in section 12 and such a member shall hold office for the remainder of the term of the member in whose place he is nominated. (5) The members of the Board shall be entitled to such allowances, as may be provided for in the regulations.