(1) The Chairperson shall hold office for a term of five years from the date on which he enters upon his office, or until he attains the age seventy years, whichever is earlier.
(2) The terms of office and other conditions of service of a member shall be applicable to the Vice-Chairperson.
(3) A member shall hold office for a term of five years from the date on which he enters upon his office of the date on which he attains the age of sixtyeight years, whichever is earlier.
(4) If a person already holding an office, is appointed as a Chairperson or a member, as the case may be, he shall have to resign from that office before joining the Authority.
(5) The salary and allowances payable to, and the other term and conditions of the Chairperson, Vice-Chairperson and other members shall be such, as may be prescribed and the same shall not be varied to their disadvantage during their tenure.
(6) Notwithstanding anything contained in sub-sections (1), (2) and (3), the Chairperson or the Vice-Chairperson or a member, as the case may be, may, -
(i) relinquish his office by giving a written notice of at least three calendar months to the State Government; or
(ii) be removed from his office in accordance with the provisions of section 8.
Term of office and conditions of service of the Chairperson, Vice-Chairperson and other members.
(7) The Chairperson or the Vice Chairperson or any other member, ceasing to hold office as such,-
(i) shall be ineligible for further employment under the State Government; and
(ii) shall not accept any commercial employment in any infrastructure sector organisation, associated with the Government of the State of Punjab during his term in office, for a period of two years from the date he ceases to hold such office.
(8) A vacancy caused to the office of the Chairperson or Vice- Chairperson or any other member, as the case may be, shall be filled up within a period of three months from the date on which such vacancy occurs.