Section 2: Governing Board of the Institute, etc.

(1) The government of the Institute and the direction of its affairs shall vest in the Board of Governors of the Institute (in this Act referred to as "the Board").
(2) Without prejudice to the generality of subsection (1) of this section, it shall be the responsibility of the Board to consider and approve-
(a) the long-range plan of activities of the Institute;
(b) the programme of studies, courses and research to be undertaken by the Institute;
(c) the annual budget of the Institute; and
(d) the investment plans of the Institute.
(3) The Board shall consist of a chairman, to be appointed by the President and the following other members, that is-
(a) the Chief of Defence Staff or other senior member of the armed forces;
(b) the Director-General of the Institute;
(c) an eminent economist;
(d) an eminent political scientist;
(e) the adviser to the Federal Government on science and technology;
(f) four persons to be appointed by the President, being persons who by reason of their ability, experience or specialised knowledge of administration or of professional or business attainments, are capable of making useful contributions to the work of the Institute.
(4) Subject to subsection (5) of this section, a person appointed as a member of the Board (not being an ex-officio member), shall hold office for three years and shall be eligible for reappointment for one further period of three years.
(5) The President may terminate the appointment of a member of the Board (not being an ex-officio member), if satisfied that it is not in the interest of the Institute that the person concerned should continue in office.
(6) The supplementary provisions contained in the Schedule to this Act shall have effect with respect to the proceedings of the Board and the other matters therein mentioned.
[Schedule.]