Section 3: The President and Vice-President of the Institute

(1) There shall be a President and a Vice President of the Council, who shall -
(a) be fellows of the professions;
(b) be elected by members of the Council by a simple majority; and
(c) hold office each for a term of two years from the date of the election.
(2) The President shall be the Chairman at meetings of the Council, and in the event of death, incapacity or inability, for any reason, of the President, the Vice-President shall act in his stead for the unexpired portion of the term of office.
(3) The President and Vice-President shall respectively be the Chairman and Vice- Chairman of the Council.
(4) The President or the Vice-President shall cease to hold any of the offices designated under this Act, if he ceases to be a member of the Institute.