Section 4: Election of President and Vice-President of the Institute.

(1) The President or Deputy President of the Institute shall each hold office for a term of one year from the date of his election, and shall be eligible for re-election for a further term of one year and no more.
(2) The President shall be the chairman at all meetings of the Institute, so however that in the event of the death, incapacity or inability for any reason of the President, the Deputy President shall act as President for the unexpired portion of the term of office as President, as the case may be, and references in this Act to the President shall be construed accordingly.
(3) If the President or the Deputy President ceases to be a member of the Institute, he shall cease to hold any of the offices designated under this section.
(4) The provisions of the First Schedule to this Act shall have effect with respect to the qualifications and tenure of office of members of the Council and the other matters therein mentioned.