Companies Act

Section 413. Term Of Office Of President, Chairperson And Other Members

(1) The President and every other Member of the Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years.

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(2) A Member of the Tribunal shall hold office as such until he attains,–

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(a) in the case of the President, the age of sixty-seven years;

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(b) in the case of any other Member, the age of sixty-five years:

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Provided that a person who has not completed fifty years of age shall not be eligible for appointment as Member:

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Provided further that the Member may retain his lien with his parent cadre or Ministry or Department, as the case may be, while holding office as such for a period not exceeding one year.

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(3) The chairperson or a Member of the Appellate Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years.

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(4) A Member of the Appellate Tribunal shall hold office as such until he attains,–

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(a) in the case of the Chairperson, the age of seventy years;

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(b) in the case of any other Member, the age of sixty-seven years:

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Provided that a person who has not completed fifty years of age shall not be eligible for appointment as Member:

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Provided further that the Member may retain his lien with his parent cadre or Ministry or Department, as the case may be, while holding office as such for a period not exceeding one year.

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