¹[9. (1) The Managing Director shall hold office for such period, not exceeding five years, and on such terms and conditions, as the Government may determine. (2) An appointed Director shall hold office for such period, not exceeding three years, and on such terms and conditions, as the Government may determine. (3) An elected Director shall hold office for a period of three years from the date of his election on such terms and conditions as the Board may determine. (4) The Managing Director or any other Director shall be eligible for the re-appointment or re-election, as the case may be. (5) The Government may terminate the appointment of the Managing Director by giving him not less than three months' notice or paying him three months' pay in lieu thereof. (6) The Government may terminate the appointment of any other appointed Director at any time without assigning any reason. (7) The shareholders may, by a resolution passed in a general meeting, remove any elected Director from his office. (8) The Managing Director or any other Director may, at any time, resign his office by a notice in writing addressed to the Board: Provided that no resignation shall take effect until it has been accepted by the Government. (9) The Government, in determining the terms and conditions on which the Managing Director or any other Director shall hold office, shall obtain the views of the shareholders, other than the Government, if any, in such manner as may be determined by it.]