Term of office and dissolution of Board

(1) The Board shall, unless sooner dissolved by the Government, continue for a period of three years from the date of its establishment or till a new Board is appointed thereafter. Provided that the Government may, at any time, with the previous approval of the State Legislature, by a notification in the official gazette, make a declaration that from such date, as may be specified in the notification, the Board shall be dissolved. (2) Any member may at any time, resign his office by giving notice in writing to the Chairman of the Board and on its being accepted by the Goverment he shall be deemed to have vacated his office from the date of such acceptance, provided that the Chairman shall give such notice to the Government. (3) On the Board ceasing to exist, either by affiux of time or by dissolution by the Government under Sub-Section (1) (i) Any committee appointed under section 11 shall cease to function; (ii) All funds and other properties vested in the Board shall vest in the Government. (iii) All members shall vacate their offices as members of the Board; and (iv) all rights, obligations and liabilities (including any liabilities under any contract) of the Board shall become the rights, obligations and liabilities of the Government. For the purpose of reimbursing personal expenditure incurred in attending the meetings of the Board, or in connection with any other duty assigned to them by the Board or the Govt. for the purpose of the Act, member of the Board or its sub-committees, including co-opted members, who are non-officials shall be paid travelling allowance at the rates fixed for Government employees of Grade I and daily allowance at rates to be fixed by the competent authority from time to time. Note:- The expression ‘competent authority’ used in this rule shall mean the Administrative Department Acting in consultation with the Department of Finance.