Section 12 in The Punjab Apartment Ownership Rules, 1995
12. Board to manage affairs of the Association. - (1) The affairs of the Association shall be managed by its Board and members of the Board shall be known as Directors.
(2)The Board shall consist of not less than five and not more than eleven Directors to be elected out of the members of the Association.(3)At every annual general meeting of the Association, one-third of such of the Directors for the time being in office or, if their number is not three or multiple of three, then the number nearest to one-third shall retire from office, but will be eligible for re-election.(4)The Directors who will retire by rotation at every Annual General meeting every year shall be those who have longest stay in office since their last appointment but as between persons who become Directors on the same day, those who are to retire shall (unless they otherwise agree amongst themselves), be determined by lot. [Sections 20 and 38(2)(e).]
