Section 3: Tenure of Office, etc.

(1) The Chairman and members of the Board shall hold office for a team of four years and shall be eligible for re-appointment for another term and no more.
(2) The office of the Chairman or a member of the Board shall become vacant if-
(a) he resigns his office by notice in writing under his hand addressed to the President and is accepted by him;
(b) the President is satisfied that it is not in the interest of the Agency or of the public for the person appointed to continue in office; or
(c) he dies;
(d) he becomes of unsound mind or incapable of carrying out his duties;
(e) he becomes bankrupt;
(f) he is guilty of gross misconduct relating to his duties.
(3) Where a vacancy occurs in the membership of the Board,it shall be filled by the appointment by the President, of 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.