Board members of THFC and its subsidiaries are appointed under the following conditions:

• Individuals who have not previously served on the Board may be appointed to the Board for no more than three successive terms, each term being of thee years' duration, unless they are Nominated Board members (those nominated by The Housing Corporation or the National Housing Federation).
  
  
• Nominated Board members will be allowed to serve any number of successive terms provided they have the consent and continuing support/approval of their sponsoring organisations.
  
  
• No Board Member (other than a Nominated Board member) may serve on the Board for a cumulative total of more than 15 years.
  
  
• No Board member will be permitted to serve after the age of 70 unless by unanimous agreement of the Board, such agreement to be reconfirmed annually.
  
  
• Following retirement or resignation from the Board, an ex-Board member cannot submit him/herself for re-election until three years have elapsed from the date such member last served on the Board.

No member can serve as Chairman of the Board for a continuous period in excess of five years. The Board will select each Chairman in accordance with the Rules of THFC, under which the Chairman must stand for re-election every year.