Section 5: Tenure of office, vacancy, resignation and removal of members.

1 The Chairman and other members of the Board other than statutory members shall hold office for a term of four years renewable for another term of four years and no more.

2 Subject to any other provision of this Act, a member of the Board shall hold office on such terms and conditions as may be specified in his letter of appointment.

3 Notwithstanding sections 5 (1) and 8 (2) of this Act, a member of the Board shall cease to hold office as a member of the Board if-
a his term of office expires;
b he dies;
c he becomes bankrupt or makes a compromise with his creditors;
d he is convicted of a felony or any offence involving fraud or dishonesty;
e he is guilty of serious misconduct;
f he becomes incapable of carrying out the functions of his office either arising from an infirmity of mind or body;
g in the case of a statutory member, he ceases to hold office on the basis of which he became a member of the Board; or
h the president is satisfied that it is not in the interest of the Commission or public for the person to continue in office and notifies the member in writing to that effect.

4 Any member of the Board other than a statutory member may resign his office by giving one month notice in writing or such other period as may be specified in his letter of appointment to the Minister and the resignation shall have effect from the date of its acceptance.

5 Where a vacancy occurs in the Board's composition, the Chairman of the Board shall formally notify the President through the Minister.