Which of the following statements are true related to

Solution

Section 4. Composition of Authority: The Authority shall consist of the following Members, namely: — (a) a Chairperson; (b) three whole-time members; and (c) three part-time members, to be appointed by the Central Government from amongst persons of ability, integrity and standing and having knowledge and experience in economics or finance or law with at least one person from each discipline. Section 5. Term of office and conditions of service of Chairperson and members of Authority: (1) The Chairperson and every whole-time member shall hold office for a term of five years from the date on which he enters upon his office and shall be eligible for reappointment: Provided that no person shall hold office as a Chairperson after he has attained the age of sixty-five years.