Section 83: Tenure, Cessation of Membership and Casual Vacancy.

(1) Subject to subsection (2), members of the Board of Trustees, except the members nominated by banks and other financial institutions, shall hold office for as long as they continue to hold the office by virtue of which they were appointed to the Board of Trustees.
(2) A member of the Board of Trustees shall cease to hold office as such member if such person ceases for any reason howsoever to hold the office by reason of which such person holds membership of the Board of Trustees.
(3) If a vacancy occurs as a result of the death, resignation, retirement, disqualification or removal of a member of the Board of Trustees, the entity or entities that such member represents on the Board of Trustees shall nominate another member to fill the vacancy so occasioned, for the remainder of the term of office of the member whose death, resignation, retirement, disqualification or removal occasioned the vacancy.