Term of office, salary and allowances and other conditions of service of Chairperson and Members.
|(2) For the purposes of clause (d) of
sub-section (1), the Central Government shall nominate from amongst persons holding
the post of Chairman or Managing Director, by whatever name called, of any public
financial institution specified in section 4A of the Companies Act, 1956.
(3) For the purposes of clause (e) of sub-section (1), the Central Government shall nominate from amongst persons holding the post of Director or the head of the institution by whatever name called, of any research, technical or management institution notified by the Central Government in the Official Gazette for this purpose.
(4) Secretary-in-charge of the Ministry of the Central Government dealing with Power shall be the Convenor of the Selection Committee.
(5) The Central Government shall, within one month from the date of occurrence of any vacancy by reason of death, resignation or removal of the Chairperson or a Member and six months before the superannuation or end of tenure of any Chairperson or Member, make a reference to the Selection Committee for filling up of the vacancy.
(6) The Selection Committee shall finalise the selection of the Chairperson and Memhers within one month from the date on which the reference is made to it.
(7) The Selection Committee shall recommend a panel of two names for every vacancy referred to it.
(8) Before recommending any person for appointment as a Chairperson or other Member of the Central Commission, the Selection Committee shall satisfy itself that such person does not have any financial or other interest which is likely to affect prejudicially his functions as a Member.
(9) No appointment of the Chairperson or other Member shall be invalid merely by reason of any vacancy in the Selection Committee.6. (1) The Chairperson or other Member shall hold office as such for a term of five years from the date on which he enters upon his office, but shall not be eligible for reappointment
Provided that no Chairperson or other Member shall hold office as such after he has attained,-
(2) The salary and allowances payable to, and the other terms and conditions of service of, the Chairperson and other Members shall be such as may be prescribed.
(3) The salary, allowances and other conditions of service of the Chairperson and other Members shall not be varied to their disadvantage after appointment.
(4) The Chairperson and every Member shall, before entering upon his office, make and subscribe to an oath of office and of secrecy in such form and in such manner and before such authority as may be prescribed.
(5) Notwithstanding anything contained in sub-section (1), the Chairperson or any Member may-
(6) The Chairperson or any Member ceasing to hold office as such shall-
1 of 1956
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