(1) The term of office of the Directors, except those who are appointed as ex-officio Directors under subsection (3) of section 8, shall be for three years.
(2) Notwithstanding anything contained in sub-section (1), the Government may, at any time, for reasons to be recorded in writing remove from office any non-official Director of the Board and such removal shall be made after giving him a reasonable opportunity to show cause against such removal:
Provided that it shall not be necessary to record in writing the reasons for the removal or to give an opportunity to show cause against the proposed removal, if the Government are of the opinion that it is not expedient in the public interest to record the reason in writing or to give such opportunity.
(3) Any Director may resign his office by giving notice in writing to the Government, but shall continue in office until the resignation is accepted by the Government.