Composition of the Authority

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....an nine other Members. (2) The President, Vice President and the Members shall be appointed by the Board from amongst eminent persons of demonstrated integrity and outstanding technical and professional ability, and drawn from the judiciary, the legal profession, the academia, investor associations, exchanges, and experts in securities market or finance; ^1[Provided that not more than three ....

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....The remuneration and the terms and conditions of appointment of the Members, including the President, shall be such as may be specified by the Board: Provided that the Members who are representatives of exchanges shall not draw any remuneration from the Authority. (7) The President may, by notice in writing under his hand addressed to the Board, resign his office and the Vice President or a ....