Every member of an Authority (other than Ex-Officio members) shall hold office for a term of three years or upto the age of sixty years, whichever is earlier:
Provided that a member of an Authority shall become disqualified to continue as a member if he—
(a) has been convicted and sentenced to imprisonment for an offence which, in the opinion of the Government, involves moral turpitude; or
(b) is an undischarged insolvent; or
(c) is of unsound mind and stands so declared by a competent court; or
(d) has, in the opinion of the Government, such financial or other interest as is likely to affect prejudicially the discharge by him of his functions as a member:
Provided further that a member may resign his office in writing under his hand addressed to the Government and such resignation being accepted, his office shall become vacant:
Provided also that when a vacancy is caused in the office of a member on account of death or resignation of the member, such vacancy may be filled by the Government by nominating a person possessing any of the qualifications mentioned in sub-section (4) of Section 17 of the Act in relation to the category of the member who is required to be nominated under the provisions of sub-section (4) of Section 17 of the Act in place of the person who has resigned or died.