(1) Save as otherwise provided in this section, the term of office of the President or any other member of the Board, other than ex officio members shall be three years from the date of his appointment or nomination thereto.
     (2) An ex officio member shall cease to be a member of the Board as soon as he vacates the office by virtue of which he is a member of the Board.
     (3) The term of a member nominated to fill a casual vacancy shall continue for the remainder of the term of the member in whose place he has been nominated.
     (4) Notwithstanding anything contained in this section, an outgoing member shall, unless the Central Government otherwise directs, continue in office until another person is nominated as a member in his place.
     (5) The members of the Board shall be entitled to such allowances, if any, from the Institute, as may be provided for in the Statutes, but no member other than the member referred to in clause (f) of section 5 shall be entitled to any salary.