(1) The Chairperson and other Members shall hold office for a term of three years from the date they enter upon their office :
Provided that no Chairperson or Member shall hold office after he has attained the age of 65 years.
(2) The salary, allowances and other terms and conditions of service of the Chairperson and the Members shall be such as may be prescribed :
Provided that the salary, allowances and other terms and condition of service of the Chairperson and the Members shall not be varied to their disadvantage after appointment.
(3) The Chairperson and Members shall, before entering upon their office, make and subscribe to an oath of office and secrecy in such form and in such manner and before such authority as may be prescribed.
(4) Notwithstanding anything contained in sub-section (1), the Chairperson or a Member may,––
(a) relinquish his office by giving in writing to the Government a notice of not less than three months ; or
(b) be removed from his office in accordance with the provisions of section 143.
(5) The Chairperson or any Member ceasing to hold office as such, shall– –
(a) not be eligible for further appointment under the Government for a period of two years from the date he ceases to hold such office ; and
(b) not accept any commercial employment for a period of two years from the date he ceases to hold such office.