3SSubject to paragraphs 4 and 5 below any member of the Board shall hold and vacate office in accordance with the terms of his appointment, but a person shall not be appointed a member of the Board for a period of more than 5 years.
4(1)The chairman or a member may resign office by giving notice in writing to the Secretary of State, and if the chairman ceases to be a member he shall cease to be the chairman.S
(2)A person who ceases to be the chairman or a member shall be eligible for reappointment.
5SThe Secretary of State may terminate the appointment of a member of the Board if satisfied that—
(a)he has had his estate sequestrated, or has been adjudged bankrupt or has granted a trust deed for or entered into an arrangement with his creditors;
(b)he is unable to carry out his duties as a Board member by reason of physical or mental illness;
(c)he has been absent from meetings of the Board for a period longer than six consecutive months without the permission of the Board; or
(d)he is otherwise unable or unfit to discharge the functions of a member of the Board, or is unsuitable to continue as a member.