(1) Save as otherwise provided in this section, the term of office of the Chairperson or any other member of the Board, other than an ex officio member, shall be for a period of three years from the date of nomination.
     (2) The term of office of an ex officio member shall continue so long as the member holds the office by virtue of which he is a member.
     (3) A member of the Board, other than an ex officio member, who fails to attend three consecutive meetings of the Board without the leave of absence, shall cease to be a member of the Board.
     (4) One-third of the members of the Board shall form a quorum of the Board, provided at least three members are from members referred to in clauses other than clauses (e), (g) and (i) of sub-section (2) of section 14.
     (5) The members of the Board shall be entitled to such allowances, as may be laid down in Statutes, for attending meetings of the Board or as may be convened by the Institute.