SEBI (Terms and Conditions of Service of Chairman and Members) Rules, 1992Central Rules · 1992
(1) A part-time Member shall be a person who does not, and will not, have any such financial or other interest as is likely to affect prejudicially his functions as a part-time Member.
(2) Every part-time Member shall hold office for such period, not exceeding three years, as may be specified in the order of his appointment, but shall be eligible for reappointment.
(3) A part-time Member appointed to fill up a casual vacancy, shall hold office for the reminder period of the termof whole-time or part-time Member in whose place he is appointed."
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