Section 4: Tenure of office

(1) A member of the Board shall hold office for a period of four years and on the conditions provided in the letter appointing the member, so however that-
(a) a member may be eligible for re-appointment for a further term of four years; and
(b) not more than three members shall be replaced at the end of each term.
(2) A member of the Board may be removed from office by the President for misconduct or inability to perform the functions of his office due to physical or mental incapacity.
(3)
There shall be paid to the members of the Board such remuneration, travelling and subsistence allowances in respect of any period of time spent on the business of the Board of Management as the President may determine.