Members of the Bank Council may resign at any time by giving three months’ notice. The resignation shall be submitted to the President of the Bank Council.
The members elected by the Federal Council shall be replaced as soon as possible; the members elected by the Shareholders’ Meeting shall be replaced at the next Shareholders’ Meeting. The new members shall be elected for the remainder of the term.
The Federal Council may remove from office any member elected by it if said member no longer fulfils the requirements for exercising the office or has committed a grave offence. The Federal Council shall elect a substitute according to paragraph 2.
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