Section 2: Election of President and Vice-President of the Institute

(1) There shall be a President and a Vice-President of the Institute who, shall be fellows of the Institute, to be elected by the Council and hold office each for a term of two years from the date of election.
(2) The President shall be 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 in his stead for the unexpired portion of the term of office, or as the case may require, 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 established by section 3 of this Act.
(4) If the President or Vice-President ceases to be a member of the Institute he shall ipso facto cease to hold any of the offices designated under this section.