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of <h1>SEBI Chairman and members serve under government-prescribed terms with three-month notice required for termination or resignation under Section 5</h1> Section 5 of the Securities and Exchange Board of India Act, 1992 establishes the term of office and service conditions for the Chairman and members of the Board. The specific terms and conditions are to be prescribed by regulations. The Central Government retains authority to terminate the Chairman or members with three months' written notice or payment in lieu thereof. Similarly, the Chairman or members may resign by providing three months' written notice to the Central Government before their prescribed term expires.
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