(1) The Chairman, unless appointed ex-officio shall hold office for three years. The State Government may, if it thinks fit in public interest so to do, by notification in the official Gazette, terminate the appointment of the Chairman earlier without entitling him to any right to compensation whatsoever.
(2) The Managing Director and Financial Director shall hold office for such period as the State Government may, by order, specify.
(3) A person appointed as Director under clause (h) of sub-section (1) of section 4 shall hold office for three years:
Provided that his term may be determined earlier by the State Government, by notification in the Official Gazette.
(4) A person appointed as Director under clause (i) of sub-section (1) of section 4 shall hold office for three years:
Provided that he shall cease to be a Director on his ceasing to be a member of the Rajasthan Legislative Assembly.
(5) A Director shall be eligible for re-appointment.
(6) Any Director may at any time resign his office by writing under his hand, addressed to the State Government, and on such resignation being accepted, he shall be deemed to have vacated his office.
(7) If any Director is by infirmity or otherwise rendered temporarily incapable of carrying out his duties or is absent on leave or otherwise in circumstances not involving the vacation office, the State Government may appoint another person to officiate for him and to carry out his functions under the Act.
(8) The Chairman, the Managing Director and Financial Director shall be paid from the Corporation Fund such salary and allowances as may be fixed by the State Government.
(9) The other Directors of the Corporation shall be paid such allowances as may be fixed by the State Government.