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<h1>Board composition: appointments and qualifications govern membership, selection committee recommendation, fixed terms and re-appointment eligibility.</h1> The statute prescribes Board composition-Chairperson, specified ex officio government and central bank representatives, and nominated members with a minimum number of whole-time members-and mandates that appointments (other than ex officio) follow recommendations of a selection committee; members must have ability, integrity and specialised knowledge in insolvency-related fields. The law fixes terms of office with eligibility for re-appointment and delegates salaries, allowances and service conditions to prescribed rules.