(1) The Government may, by notification in the 8[Official Gazette] from time to time establish one or more Boards for the settlement of debts or any class of debts and the notification shall specify the extent of the jurisdiction of the Board or Boards so established.
(2) The Board shall consist of a Chairman and two other members.
7. Adapted by G.O.Ms.No.46, Law (F) Department, dated 01.06.2016.
8. Substituted for the word “Jarida” by the A.P.A.O., 1957.
Savings.
Constitution of the Board.
Central Act 5 of 1908.
Act VIII of 1317 F.
4 [Act No. XII of 1952]
(3) The Chairman and other members of the Board shall be appointed by Government and the Chairman shall possess such judicial qualifications as may be prescribed.
(4) The quorum of the Board shall be two except in respect of the final decision of the Board at which all the members shall be present.
(5) Where the Chairman and other members of the Board are not unanimous in their decision, the opinion of the majority shall prevail. If the decision of each of them on any point is different, the opinion of the Chairman on that point shall prevail.
(6) The Government shall by order direct which of the two members of the Board shall, in the absence of the Chairman, act as Chairman.
(7) No member of a Board who has directly or indirectly by himself or by his partner or near relation any share or interest in any transaction which is tbe subjectmatter of any proceedings before the Board or any Jagirdar or any creditor of a Jagirdar or a professional money-lender shall act as a member of the Board in respect of such proceedings:
Provided that the proceedings of a Board shall not be called in question on the ground that a member has acted in contravention of this sub-section unless by reason of such contravention there has been a failure of justice.