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    <description>Regulation 4 prescribes the composition of the Authority as a President, a Vice President and up to nine other Members, with the Chief Executive Officer as ex officio Member Secretary; appointments are by the Board from qualified persons, limited to not more than three representatives of exchanges or related institutions and contingent on physical fitness. Members serve three year terms, are eligible for reappointment subject to a two term cap, remuneration and terms are specified by the Board with exchange representatives unpaid by the Authority, and the Board may remove Members for reasonable cause after communicating reasons and providing a hearing.</description>
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