Solution

Section 4 of SEBI Act Management of the Board—(1) The Board shall consist of the following members, namely:— (a) a Chairman; (b) two members from amongst the officials of the Ministry of the Central Government dealing with Finance and administration of the Companies Act, 1956; (c) one member from amongst the officials of the Reserve Bank; (d) five other members of whom at least three shall be the whole-time members,to be appointed by the Central Government.