—(1) The Board shall consist of —
a Finance member; and
not less than 8 and not more than 12 other members,
all of whom shall be appointed by the Minister.
(2) Subject to the provisions of this Act and unless the contrary intention appears in the instrument of appointment, the appointment of members under subsection (1) shall be for a period of 3 years from the date thereof.
(3) The members of the Board shall be eligible for reappointment except that a Finance member shall not be appointed for more than two consecutive terms as a Finance member but may, at the end of the second consecutive term, be appointed in any capacity in the Board except as a Finance member.
(4) No person shall be appointed a member of the Board under subsection (1) unless he —
is a Hindu; and
is a citizen of Singapore.