Section 3: Election of president and vice- president of the Institute

(1) There shall be a president and a vice-president of the Institute who; subject to the provisions of section 21 of this Act and Schedule 3 hereto, shall be elected by the Council under this Act.
(2) The president and vice-president shall each hold office for a term of two years from the date of his election, and the president shall be 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 as president for the un-expired portion of the term of office and as chairman as the case may be, and references in this Act to the president shall be construed accordingly.
(3) The president and vice-president shall respectively be chairman and vice-chairman of the Council of the Institute under this Act,
(4) If the president or the vice-president ceases to be a member of the Institute he shall cease to hold any of the offices designated under this section.