Section 2: Election of President, Vice-President and National Treasurer of the Institute.

(1) There shall be a President, Vice-President and a National Treasurer of the Institute who shall be financial members in the grades of Associate, Member and Fellow of the Institute, to be elected annually at general meetings, and hold the same office for not more than three years continuously.
(2) 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 in his place 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, Vice-President and the National Treasurer shall respectively be chairman, vice-chairman and treasurer of the Council.
(4) If the President or the Vice-President or the National Treasurer ceases to be a member of the Institute he shall ipso facto cease to hold any of the offices designated under this section.