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Chairman and vice-chairman.
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8.—(1) The Board shall, at its first meeting and also at every annual meeting, elect one of its members to be chairman of the Board and another of its members to be vice-chairman of the Board.
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(2) Every person elected to be chairman or vice-chairman of the Board shall, unless he sooner dies, resigns or becomes disqualified, hold office as chairman or vice-chairman until his successor is elected.
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(3) Whenever the office of chairman or vice-chairman becomes vacant through the death, resignation, or disqualification of the chairman or vice-chairman, the Board shall at the next meeting after such vacancy has taken place elect one of its members to be chairman or vice-chairman.
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(4) The chairman or vice-chairman of the Board may at any time resign his office as chairman or vice-chairman by letter addressed to the Board, and every such resignation shall take effect at the commencement of the meeting of the Board held next after the receipt of such resignation by the Board.
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(5) Whenever the chairman or the vice-chairman of the Board ceases during his term of office as such chairman or vice-chairman to be a member of the Board he shall be disqualified from being and shall forthwith cease to be such chairman or vice-chairman.
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(6) Whenever, at the election of chairman of the Board, there is an equality of votes for two or more persons, one of these persons shall be elected by lot.
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