Board composition: appointments and qualifications govern membership, selection committee recommendation, fixed terms and re-appointment eligibility. 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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Board composition: appointments and qualifications govern membership, selection committee recommendation, fixed terms and re-appointment eligibility.
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.
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