Section 413 of Companies Act 2013
Term of office of President, chairperson and other Members.
413. (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.