5.
| (1) The Chairman of the Board shall be c appointed by the Minister from among the members of the Board, and shall, unless he earlier vacates his office or is removed from office by the Minister, hold office for a term of five years. |
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| (2) The Chairman of the Board shall also be its chief executive officer. The Chairman shall preside at all meetings of the Board. In the event of his absence from any such meeting, the members of the Board present at such meeting shall elect one of their number to preside at such meeting. |
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| (3) If the Chairman of the Board becomes by reason of illness, or other infirmity or absence from Ceylon, temporarily unable to perform the duties of his office, the Minister may appoint any other member of the Board to act in his place. |
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| (4) The Chairman shall be paid such salary or remuneration as may be determined by the Minister, with the concurrence of the Minister of Finance. |
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| (5) The Chairman of the Board may resign his office by letter addressed to the Minister. |
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Sri Lanka Consolidated Acts