(1) Notwithstanding anything contained in section 3, the Managing Body shall consist of the following members, namely :--
(a) a Chairman to be nominated by the President for such term as he may deem fit;
(b) six members to be nominated by the President for such term as he may deem fit;
(c) twelve members to be elected by the State Branch Committees for a term of two years in accordance with the rules made by the managing Body under section 5 :
Provided that not more than one member shall be elected by any State Branch Committee :
Provided further that no member, elected under this section, shall hold office continuously for more than two terms.
(2) The Managing Body existing immediately before the commencement of the Indian Red Cross Society (Amendment) Act, 1992 shall cease to exist and the Chairman and all the members of the said Body shall be deemed to have vacated their offices on such commencement and the Managing Body shall be reconstituted within a period of six months from such commencement in accordance with the provisions of sub-section (1) and until it is so reconstituted, the President may authorise any person or body of persons to exercise and discharge all the powers, functions and duties which may, under the provisions of this Act or the rules made thereunder, be exercised or discharged by or on behalf of the Managing Body.