(1) For the purpose of advising it with respect to the planning and implementation of the developmental programmes of the Society and other matters concerning the Society, the Central Government may, by notification in the Official Gazette, establish a board to be called the Planning Board (Asiatic Society).
     (2) The Board shall consist of a Chairman and such other members as may be appointed by the Central Government.
     (3) Subject to any rules which the Central Government may make in this behalf, the Board shall have the power to regulate its own procedure.
     (4) The term of office of, the procedure to be followed in the discharge of their functions by, the manner of filling casual vacancies among, the allowances, if any, payable to, and other matters concerning, the members of the Board shall be such as may be prescribed.