Composition of Board
6.—(1)  The Board shall consist of —
(a)the Chairman, who shall be the Minister responsible for finance;
(b)the Deputy Chairman, who shall be appointed by the President for a specific period and shall vacate his office without prejudice to his eligibility for reappointment at the expiration of that period; and
(c)four other members possessing recognised banking, financial or business experience who shall be appointed by the President from time to time for such periods as the President may decide.
(2)  The Deputy Chairman shall act for the Chairman whenever he is absent.
(3)  If the Deputy Chairman is temporarily absent from Singapore or temporarily incapacitated through illness or any other sufficient reason from the performance of his duties, another person may be appointed by the President during such temporary absence or incapacity.
(4)  If a member appointed under subsection (1)(c) suffers an incapacity which is likely to be prolonged, the President may appoint a temporary substitute to act with the full powers of that member until such time as the President determines that the incapacity has ceased.