Tenure of Tribunal members: Presiding Officer and Judicial or Technical Members serve fixed five-year terms with reappointment and age limit. Section 15N fixes the tenure of the Presiding Officer and every Judicial and Technical Member of the Securities Appellate Tribunal at five years from entry upon office, allows eligibility for reappointment for a further term of up to five years, and bars any Presiding Officer or Member from holding office after attaining the age of seventy years.