1. Members of the Board of Directors shall be appointed by a federal decree based on recommendation of the Cabinet, and shall serve for a four (4) year term renewable for similar periods. The federal decree designates from among the members of the Board of Directors one or more deputy Chairman. 2. The Chairman and the Governor, shall each have the rank of minister. 3. The Chairman shall issue a decision defining the powers of his deputies. 4. Notwithstanding the provisions of item three (3) of this article, should the Chairman be absent or his post became vacant, his deputy shall replace him; and should both the Chairman and his deputies be absent or their posts became vacant, the Governor shall replace them.
Interpretation and application must be checked against the official text and current version.