Section 4: Qualifications for appointment as, and manner of selection of Chairman and Members of Commission.

The Chairman of the Commission shall be an eminent serving or retired civil servant well versed in Administration and Finance or a person with experience in public affairs and the four other members shall be selected from amongst persons who,-

(a) have special knowledge of the finances and accounts of Government ; or

(b) have had wide experience in financial matters and in administration ; or

(c) have special knowledge and experience about the local self Government in urban areas ;

(d) have special knowledge and experience about the local self Government in rural area :

Provided that one of the members shall be a person who is holding or has held the post not lower in rank than that of [an officer in Junior Administrative Grade in Indian Administrative Service or an Officer in equivalent Grade] and he shall be the Member-Secretary of the Commission.