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6. Term of office, conditions of service, etc, of Chairman and other Members.

  1. The Chairman shall be Part-time Member and shall hold office for a term of six years from the date on which he enters upon his office.

  2. The Executive Member, the Member (Finance) and Member (Personnel) shall be Whole-time Members and every such Member shall hold office for a term of six years from the date on which he enters upon his office or until he attains the age of sixty-two years whichever is earlier.

  3. The term of office of Part-time Members shall be six years, but one-third of such Members shall retire on the expiration of every second year.

  4. The term of office of an elected Member shall be two years or till he ceases to be an employee of the Corporation, whichever is earlier.

  5. As soon as may be after the establishment of the Corporation, the President of India may, by order, make such provision as he thinks fit for curtailing the term of office of some of the Part-time Members then appointed in order that one-third of the Members holding office as such Part-time Members shall retire in every second year thereafter.

  6. Where before the expiry of the term of office of a person holding the office of Chairman, or any other Member, a vacancy arises, for any reason whatsoever, such vacancy shall be deemed to be a casual vacancy and the person appointed or elected to fill such vacancy shall hold office for the unexpired period of the term for which his predecessor in office would have held office if such vacancy had not arisen.

  7. The Whole-time Members shall be the employees of the Corporation and as such shall be entitled to such salaries and allowances and shall be subject to such conditions of service in respect of leave, pension (if any), provident fund and other matters as may be prescribed: Provided that the salaries and allowances and the conditions of service shall not be varied to their disadvantage after their appointment.

  8. The Chairman and Part-time Members shall be entitled to such allowances as may be prescribed.