Power to supersede authority enables board to take over functions and reconstitute members when necessary. The Board may, when necessary in the interests of investors, the securities market or the public interest, supersede the Authority for a specified period; upon supersession all Members are deemed to have vacated office and the Board or persons it directs shall exercise the Authority's functions and powers until reconstitution. The Board may reconstitute the Authority by fresh appointment at the end of the supersession period or earlier, and persons who vacated office are not disqualified from appointment.