Amendment status not verified — confirm the current text below against the official source.
(1) The term of a nominated Member of the Board of Governors shall be three years from the date of his nomination; (2) The ex-officio Member shall continue to be a Member so long as he holds the office by virtue of which he is the Member of the Board of Governors; (3) Any vacancy in the Board of Governors occurring before the next reconstitution or before the expiry of the prescribed period shall be filled in the same manner as provided in sub-section (1) of section 18 and such a Member shall hold office for the remaining term of the Member in whose place he is nominated; (4) The nominated Member shall be eligible for re-nomination for another term, subject to a maximum of two terms i.e., six years; Provided that the nominated Members are eligible for re-nomination with or without break for a maximum of two terms only; (5) Any Member may resign from his office by writing under his hand addressed to the Chairperson of the Board of Governors and his resignation shall take effect from the date it is accepted by the Chairperson of the Board of Governors.