Section 5: Tenure of office.

(1)
A member of the Board appointed, otherwise than by office, shall hold office for a term of four years, and subject to the provisions of subsection (2) of this section, shall be eligible for re-appointment for only one further term of four years.
(2) The office of a member of the Board shall become vacant if-
(a) he resigns as a member by notice in writing under his hand addressed to the Minister; or
(b) the Minister is satisfied that it is not in the interest of the Bank for the member to continue in office and notifies the member in writing to that effect.