Terms of office and vacancies among members of the Board.

(1) Save as otherwise provided in this section, the term of nominated members of the Board shall be three years from the date of nomination; (2) an ex-officio member shall continue so long as he holds the office by virtue of which he is such member; (3) any vacancy in the Board occurring before the next reconstitution or before the expiry of the prescribed period shall be filled by nomination of another person by the President; (4) a member nominated under sub-section (3) shall continue for the reminder of the term of a member in whose place he is nominated; (5) an outgoing member shall be eligible for re-nomination for the next term; (6) a member may resign his office by writing under his hand addressed to the President but he shall continue in office until his resignation has been accepted by the President.