(1) Subject to the provisions of section 4, and sub-section (3) of this section, the term of office and terms and conditions of service of members and the remuneration or allowances or both to be paid to them shall be such as may be prescribed.
(2) Subject to the provisions of sub-section (3),-
(a) the Chairman shall be entitled without payment of rent to the use of a residence in Bombay throughout his term of office and for a period of fifteen days immediately thereafter, or in lieu of such residence, a house allowance at the prescribed rate;
(b) no charge shall fall on the Chairman personally in respect of the maintenance of any residence provided in this sub-section;
(c) the Board may from time to time for the use of the Chairman purchase and provide a motor car or other suitable conveyance upon such conditions as regards its maintenance and repairs as may be determined by rules made by the State Government in this behalf.
(3) Notwithstanding anything contained in this section or any rules made thereunder, a member of the State Legislature while holding the office of Chairman or member of the Board shall not be entitled to receive any facilities provided in sub-section (2), or any remuneration or allowances other than travelling allowance, daily allowance or such other allowance which is paid to the holder of such office for the purpose of meeting the personal expenditure incurred in attending the meeting of the Board, the Council or any Committee of the Board, or in performing any other functions as the holder of such office.
(4) The Chief Executive Officer, the Financial Adviser and Chief Accounts Officer, and all other officers and servants of the Board shall work under the superintendence and control of the Chairman.