4(1)The Secretary of State shall appoint one of the members to be Chairman and one to be Deputy Chairman; and the members so appointed shall hold and vacate those offices in accordance with the terms of their appointment, subject to the following provisions.E+W+S
(2)The Chairman or Deputy Chairman may resign his office by notice in writing addressed to the Secretary of State.
(3)If the Chairman or Deputy Chairman ceases to be a member of the Corporation, he also ceases to be Chairman or Deputy Chairman.