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<h1>Rule 16: Company Law Board Members Eligible for Tribunal Roles if Qualified, Following Section 412 Selection Process.</h1> Rule 16 of the National Company Law Tribunal (Salary, Allowances and other Terms and Conditions of Service of President and other Members) Rules, 2015, states that individuals serving as Chairman and Members of the Company Law Board, who meet the qualifications and requirements specified under the Act, are eligible for appointment as the President and Members of the Tribunal. This appointment must follow the selection procedure outlined in section 412 of the Act.