Section 8: Appointment and tenure of office of President and members of the Governing Board and the Senate.

(1)
Subject to paragraph 1 of the Schedule to this Act, the President shall be appointed by the Governing Board and shall hold office as such for two years.
[Schedule]
(2) In the event of the death or incapacity of the President or if for any reason other than the effluxion of time the office of President is vacant, the Governing Board shall appoint another person as President for the residue of term of the President.
(3) Members of the Governing Board appointed under paragraph (b) of section 4 of this Act and members of the Senate appointed under paragraphs (b) and (c) of section 6 of this Act shall each hold office for two years.
(4) Any of the members of the Governing Board or the Senate referred to in subsection (3) of this section, may by notice to the Governing Board or, as the case may be, to the Senate, resign his appointment and where any such member ceases to hold office before his term of office would have expired by the effluxion of time, the body by whom he was appointed or elected shall, as soon as may be, appoint or as the case may be, elect a person to fill the vacancy for the residue of the term aforesaid.