Subject to sub-paragraphs (2) and (3), every member of the Authority shall hold office for such period, not exceeding five years, as may be fixed at the time of his appointment, and shall, on ceasing to be a member, be eligible for re-appointment.

The Secretary of State may at any time direct by notice in writing, a copy of which shall be laid before each House of Parliament, that any member of the Authority shall cease to hold office; and any member of the Authority may at any time resign his office by notice in writing to the Secretary of State.

If any member of the Authority dies or ceases to hold office before the expiry of the term for which he was appointed, the term of office of his successor shall be so fixed as to expire at the end of the former term, but the Secretary of State may, if he thinks fit to do so, defer the making of an appointment until the expiry of the former term.