(1) A director will be
appointed for a term, not exceeding 3 years, specified in the instrument
of appointment and, at the expiration of a term of appointment, will be
eligible for reappointment.
(2) The office of a
director becomes vacant if the director—
(a)
dies; or
(b)
completes a term of office and is not reappointed; or
(c)
resigns by written notice to the Minister; or
(d)
becomes bankrupt or applies to take the benefit of a law for the relief of
insolvent debtors; or
(e) is
convicted of an indictable offence; or
(f) is
removed from office by the Minister by written notice.