Regulation 5 Members of the Board
The Board, as constituted after the transfer under section 35 of the Act, shall consist of three members whom the Ministers shall appoint.
The Ministers shall designate one of the members appointed under this regulation as chairman of the Board.
The Ministers shall designate a second member to act as chairman, in the event that the first designated chairman is unable to attend a meeting of the Board.
Subject to the following provisions of this regulation, a member of the Board shall hold and vacate office in accordance with the terms of his appointment specified in the instrument by which the Ministers appoint him, which shall include a condition that the member shall comply with the provisions of these Regulations which are binding on him and ensure in combination with the other members that the Board complies with the provisions of these Regulations binding on them.
Any appointment of a person as a Board member shall be for a term not exceeding two years, but a person who ceases to be such a member at the end of the term shall be eligible for re-appointment.
A member of the Board may by giving a calendar month’s notice in writing to the Ministers resign his office with effect from such time as is specified in the notice.
If the Ministers are satisfied in relation to a member of the Board—
that that member has been absent without the written permission of the chairman of the Board from two consecutive meetings of the Board, or
that that member has been adjudged bankrupt, that his estate has been sequestrated or that he has made a composition or arrangement with, or granted a trust deed for, his creditors, or
that that member is unable or unfit to discharge the functions of a member, or
that that member has not complied with the terms of his appointment,
the Ministers may by notice to him remove him from office with effect from such time as is specified in the notice.