6. The Board of Governors as above constituted shall be a body corporate, by the name of the “New Zealand Institute,” and by that name they shall have perpetual succession and a common seal, and may sue and be sued, and shall have power and authority to take, purchase, and hold lands for the purposes hereinafter mentioned. 7. (1.) The Board of Governors shall have power to appoint a fit person, to be known as the “President,” to superintend and carry out all necessary work in connection with the affairs of the Institute, and to provide him with such further assistance as may be required. (2.) It shall also appoint the President or some other fit person to be editor of the Transactions of the Institute, and may appoint a committee to assist him in the work of editing the same. (3.) It shall have power to make regulations under which societies may become incorporated to the Institute, and to declare that any incorporated society shall cease to be incorporated if such regulations are not complied with, and such regulations on being published in the Gazette shall have the force of law. (4.) The Board may receive any grants, bequests, or gifts of books or specimens of any kind whatsoever for the use of the Institute, and dispose of them as it thinks fit. (5.) The Board shall have control of the property hereinafter vested in it, and of any additions hereafter made thereto, and shall make regulations for the management of the same, for the encouragement of research by the members of the Institute, and in all matters, specified or unspecified, shall have power to act for and on behalf of the Institute. 8. Any casual vacancy on the Board of Governors, howsoever caused, shall be filled within three months by the society or authority that appointed the member whose place has become vacant, and if not filled within that time the vacancy shall be filled by the Board of Governors. 9. (1.) The first annual meeting of the Board of Governors herein-before constituted shall be held at Wellington on some day in the month of January, one thousand nine hundred and four, to be fixed by the Governor, and annual meetings of the Board shall be regularly held thereafter during the month of January in each year, the date and place of such annual meeting to be fixed at the previous annual meeting. (2.) The Board of Governors may meet during the year at such other times and places as it deems necessary. (3.) At each annual meeting the President shall present to the meeting a report of the work of the Institute for the year preceding, and a balance-sheet, duly audited, of all sums received and paid on behalf of the Institute. 10. The Board of Governors may from time to time, as it sees fit, make arrangements for the holding of general meetings of members of the Institute, at times and places to be arranged, for the reading of scientific papers, the delivery of lectures, and for the general promotion of science in the colony by any means that may appear desirable. 11. The Colonial Treasurer shall, without further appropriation than this Act, pay to the Board of Governors the annual sum of five hundred pounds, to be applied in or towards payment of the general current expenses of the Institute.