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| Sections | Particulars |
|---|---|
| Chapter XXVII | National Company Law Tribunal and Appellate Tribunal |
| 413 | Term of office of President, chairperson and other Members |
| Description | 1. The President and every other Member of the Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years.2. A Member of the Tribunal shall hold office as such until he attains,—a. in the case of the President, the age of sixty-seven years;b. in the case of any other Member, the age of sixty-five years:Provided that a person who has not completed fifty years of age shall not be eligible for appointment as Member:Provided further that the Member may retain his lien with his parent cadre or Ministry or Department, as the case may be, while holding office as such for a period not exceeding one year.3. The chairperson or a Member of the Appellate Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years.4. A Member of the Appellate Tribunal shall hold office as such until he attains,—a. in the case of the Chairperson, the age of seventy years;b. in the case of any other Member, the age of sixty-seven years:Provided that a person who has not completed fifty years of age shall not be eligible for appointment as Member:Provided further that the Member may retain his lien with his parent cadre or Ministry or Department, as the case may be, while holding office as such for a period not exceeding one year. |
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