(1) For the purposes of this Act, the State Government shall, within 3 months of the commencement of this Act, establish, by notification, a Commission to be known as the Orissa Electricity Regulatory Commission, which shall be a body corporate with perpetual succession and a common seal with power to acquire and hold property, movable and immovable, and shall by the said name be entitled to sue and be sued.
(2) The Commission shall consist of three members to be appointed by the State Government from persons selected by the selection committee constituted for the purpose.
(3) The State Government shall, as per the recommendation of the selection committee, designate one of the members as the Chairman of the Commission but, until such designation, the most senior member of the Commission shall act as Chairman, such seniority being reckoned from the date of joining of the Commission by the members.
(4) When the Chairman of the Commission is unable to discharge the functions owing to absence, illness or any other cause, the senior most member of the Commission shall discharge the functions of the, Chairman, until the day on which the Chairman assumes the charge of his functions.
(5) No act or proceedings of the Commission shall be invalid by reason why of the existence of any vacancy among its members or any defect in the constitution thereof.
(6) The method and manner of selection and appointment of members of the Commission and designation of one of the members as Chairman shall be such as may be prescribed by rules.