5.
| (1) The Directors shall elect from among themselves, a Chairman of the Board. |
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| (2) The Chairman may resign from the office of Chairman by letter in that behalf addressed to the Board. |
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| (3)The Board may, by resolution, remove the Chairman from office. |
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| (4) Subject to the provisions of subsections (2) and (3), the term of office of the Chairman shall be his period of membership of the Board. |
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| (5) Where the Chairman is by reason of ill-health, absence from Sri Lanka or other cause temporarily unable to perform the duties of his office, the directors shall elect a person from among themselves to act in the place of Chairman. |
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Sri Lanka Consolidated Acts