Section 3: Election of President and Vice-President

(1) The President and the Vice-President shall be elected by the members of the Council.
(2) The President and Vice-President shall each hold office for a term of two years from the date of their election, and the President shall be the chairman at meetings of the Institute, so however that in the event of the death, incapacity or inability for any reason of the President, the Vice President shall act as President for the unexpired portion of the term of office and as chairman, as the case may be, and references in this Act to the President shall be construed accordingly.
(3) The President and the Vice-President shall respectively be chairman and vice-chairman of the Council of the Institute under this Act.
(4) If the President or the Vice-President ceases to be a member of the Institute, he shall cease to hold any of the offices designated under this section.