Section 5 — Term of office of members

(1) Members of the Board, shall hold office for a period of three years from the date of the notification published in the * [Government Gazette] under section 8 :

Provided that even after the said period of three years such members shall continue to hold office till their successors have been notified under section 8.

(2) A member nominated under any of the provisions of section 4 shall retain membership of the Board only so long as he holds the office by virtue of which he was nominated.