law: Foreign Exchange Management Act, 1999 
  22. Term of office 
  The Chairperson and every other Member shall hold office as such
  
  for a term of five years from the date on which he enters upon his office:
  Provided  that no Chairperson or other Member shall hold
  
  office as such after he has attained,- 
  1. in the case of the Chairperson, the age of
  
  sixty-five years;
  2. in the case of any other Member, the age of
  
  sixty-two years.