Term of office and vacancies among members of Board

(1) Save as otherwise provided in this section, the term of a nominated member of the Board shall be three years from the date of his nomination. (2) An ex-officio member shall continue so long as he holds the office by virtue of which he is the member of the Board. (3) Any vacancy in the Board, of a member other than ex-officio member occurring before the expiry of the prescribed period shall be filled 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. (4) A member shall be eligible for re-nomination for the next term. (5) 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.