(1) The term of office of the Members shall be five years from the date of constitution of the Governing Board.
     (2) If a casual vacancy occurs in the office of a Member nominated under clause (b) or clause (c) of section 11, whether by reason of his death, resignation or inability to discharge his functions owing to illness or other incapacity, such vacancy shall be filled by making fresh nomination and the Member so nominated shall hold office for the remainder of the term of office of the Member in whose place he is so nominated.
     (3) An outgoing, Member shall be eligible for re-nomination.
     (4) A Member may resign his office by writing under his hand addressed to the Central Government but shall continue in office until his resignation is accepted by that Government.
     (5) The Members nominated under clauses (b) and (c) of section 11, shall be entitled to such allowances as may be prescribed.