(1) The Board shall, as soon as may be after its Election of establishment and thereafter at each annual meeting, elect viceone of its members to be the Vice-President. President.
(2) The Vice-President shall hold office until the annual meeting next following his election and shall be re-eligible for election.
(3) If a vacancy occurs in the office of the Vice-President during the term of his office, another member of the Board shall be elected as Vice-President for the residue of such terra:
(4) The Vice-President may resign his office by giving notice in writing to the President, and when such resignation is accepted by the Board, the Vice-President shall be deemed to have vacated his office.
15. The President, or in his absence the Vice-President, or in the absence of both the President and the Vice- President, one member elected from among those present, shall preside at every meeting of the Board, and shall be entitled to vote on any matter and shall have and exercise a second or casting vote in every case of equality of votes.
16. Subject to such conditions as may be prescribed by regulations, the President may at any time, by an order in writing, delegate all or any of the powers conferred upon him by or under this Act to the Vice-President, and may in like manner cancel any such order of delegation.