3. It shall be the duty of the Head of the Department—
(a)to satisfy himself, before he appoints a person to be a member of the Corporation, that that person will have no such financial or other interest as is likely to affect prejudicially the performance of his functions as a member; and
(b)to satisfy himself from time to time with respect to each member that he has no such interest;
and a person who is a member or whom the Head of the Department proposes to appoint as a member shall, whenever requested by the Head of the Department to do so, furnish the Head of the Department with such information as he may specify with a view to carrying out his duty under this paragraph.
4.—(1) Subject to this paragraph a member of the Corporation shall hold and vacate office in accordance with the terms of his appointment.
(2) A member shall hold office for a fixed term not exceeding five years.
(3) A member may resign his office by giving to the Head of the Department a signed notice in writing to that effect.
(4) The Head of the Department may by notice in writing remove a member from office.
(5) A member who ceases to hold office shall be eligible for re-appointment to the Corporation.
5.—(1) Where a member becomes or ceases to be the chairman or deputy chairman, the Head of the Department may vary the terms of the instrument appointing him a member.
(2) If the chairman or deputy chairman ceases to be a member, he shall cease to be chairman or deputy chairman, as the case may be.