(1) Each provision of this section applies save to the extent that the PLC's constitution provides otherwise.
(2) At the first annual general meeting of the PLC all the directors shall retire from office.
(3) At the annual general meeting in every subsequent year, one-third of the directors for the time being, or, if their number is not 3 or a multiple of 3, then the number nearest one-third shall retire from office.
(4) The directors to retire in every year shall be those who have been longest in office since their last election but as between persons who became directors on the same day, those to retire shall (unless they otherwise agree among themselves) be determined by lot.
(5) A retiring director shall be eligible for re-election.
(6) The PLC, at the meeting at which a director retires in any of the foregoing instances, may fill the vacated office by electing a person to it.
(7) In default of the PLC doing so, the retiring director shall, if offering himself or herself for re-ele
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