Appointment of tribunal member under statutory provision establishes a five-year term subject to an age cap. The Central Government appoints Dr. B. Samal, Retired Chairman and Managing Director of a national bank, as Member of the Securities Appellate Tribunal, effective 4th November, 2003, under the statutory powers of the governing Act; the appointment is for five years or until the appointee attains the age of sixty-two years, whichever is earlier.