Section 8: Establishment, election and tenure of the office of President, First and Second Vice-President.

(1) There shall be for the Institute a President, First and Second Vice-Presidents who shall –
(a) be Fellows of the Institute;
(b) be elected at the Annual General Meeting (AGM); and
(c) each hold office for a term of two years from the date of the election.
(2) Any other elected member of the Council shall not be less than a Chartered Risk Manager.
(3) The President shall be the Chairman and preside over the meeting of the Institute, but in the event of the President's death, incapacity or inability for any reason, the First Vice-President shall act as Chairman, and in the absence of the First Vice- President, the Second Vice-President shall act for the unexpired term of office, and references in this Act to the President shall be construed accordingly.
(4) The President and First Vice-President shall respectively be Chairman and Vice- Chairman of the Council.
(5) Where the President or any of the Vice-Presidents' ceases to be a member of the Institute, he shall cease to hold any of the offices designated under this section.