(1) The members may, by resolution passed by 2/3 of the votes cast at a general meeting called for the purpose, remove a member of the credit committee before the expiration of his or her term of office, and shall at that meeting elect another member in place of the first mentioned member for the unexpired portion of his or her term.
(2) The notice calling the meeting of members referred to in subsection (1) shall specifically state that the purpose of the meeting is to remove the member of the credit committee who is named in the notice.
(3) The member of the credit committee to be removed under this section has the right to make such representations to the meeting regarding the resolution for his or her removal as he or she thinks fit, and may be represented by an attorney-at-law or an agent.