Section 4: Tenure of Office of the Chairman and members of the Board.

1 The Chairman and Members of the Board shall hold Office for a term of four years and may be eligible for re-appointment for another term of four years and no more.
2 The Office of the Chairman or a Member of the Board shall become vacant where-
a his term of Office expires;
b he resigns his Office by a notice in writing under his hand addressed to the President;
c he dies;
d the Board by resolution declares the seat vacant because he-
(i) has been absent from the Board meetings for four consecutive times without the permission of the Board;
(ii) becomes a person of unsound mind or incapable of carrying out his duties;
(iii) has been declared bankrupt or he makes compromise with his creditors;
(iv) is incapacitated by physical or mental illness;
(v) has been convicted of a felony or any offence involving dishonesty;
(vi) is guilty of gross misconduct relating to his duties; or
e in the case of an ex-officio member, he ceases to hold the office on the basis of which he became a member of the Board.
3 Notwithstanding the provisions of subsection (2) of this Section, the President may remove a member from the Board if he is satisfied that it is not in the interest of the Agency or Public for the person appointed to continue in Office.
4 Where a vacancy occurs in the membership of the Board, the President shall appoint a successor to hold office for the remainder of the Term of Office of his predecessor and the successor shall represent the same interest as that member whose exit created the vacancy.