law: Monopolies and Restrictive Trade Practices Act, 1969 
  6. Terms of office, conditions of service, etc. of members 
  (1) Every member shall hold office for such period, not
  
  exceeding five years, as may be specified by the Central Government in the
  
  notification made under sub-section (1) of section 5, but shall be eligible for
  
  re-appointment:
  PROVIDED  that no member shall hold office as
  
  such for a total period exceeding ten years, or after he has attained the age
  
  of sixty-five years, whichever is earlier.
  (2) Notwithstanding anything contained in sub-section (1), a
  
  member may-
  (a) by writing under his hand and addressed to
  
  the Central Government resign his office at any time;
  (b) be removed from his office in accordance
  
  with the provisions of section 7.
  (3) A casual vacancy caused by the resignation or removal of the
  
  Chairman or any other member of the Commission under sub-section (2) or
  
  otherwise shall be filled by fresh appointment.
   10  [(3A) Where any such casual vacancy occurs in the office
  
  of the Chairman of the Commission, the senior-most member of the Commission,
  
  holding office for the time being, shall discharge the functions of the
  
  Chairman until a person appointed to fill such vacancy assumes the office of
  
  the Chairman of the Commission.
  (3B) When the Chairman of the Commission is unable to discharge
  
  the functions owing to absence, illness or any other cause, the senior-most
  
  member of the Commission, if authorized so to do by the Chairman in writing,
  
  shall discharge the functions of the Chairman until the day on which the Chairman
  
  resumes the charge of his functions.]
  (4) No act or proceeding of the Commission shall be valid by
  
  reason only of the existence of any vacancy among its members or any defect in
  
  the constitution thereof.
  (5) The Chairman of the Commission and other members shall
  
  receive such remuneration and other allowances and shall be governed by such
  
  conditions of service as may be prescribed:
  PROVIDED  that the remuneration of the Chairman or any
  
  other member shall not be varied to his disadvantage after his appointment.
  (6) In the case of a difference of opinion among the members of
  
  the Commission, the opinion of the majority shall prevail and the opinion or
  
  orders of the Commission shall be expressed in terms of the views of the
  
  majority.
  (7) The Chairman of the Commission and 29[every other
  
  member] shall, before entering upon his office, make and subscribe to an oath
  
  of office and of secrecy in such form, in such manner and before such authority
  
  as may be prescribed.
  (8) 30[The Chairman or any member] ceasing to hold
  
  office as such shall not hold any appointment in, or be connected with the
  
  management or administration of, any industry or undertaking to which this Act
  
  applies for a period of five years from the date on which he ceases to hold
  
  such office.