7. Members of the Authority.-
The Central Government may appoint the following as the members of the Authority, namely:—
(i) a person not below the rank of Executive Director to be nominated by the Reserve Bank of India as ex-officio member;
(ii) a person not below the rank of Executive Director to be nominated by the Securities and Exchange Board of India as ex-officio member;
(iii) four persons having special knowledge and experience of not less than fifteen years, in finance, management, accountancy or law with one person from each discipline and such person shall have special knowledge, or professional experience, which shall in the opinion of the Central Government shall be useful to the Authority. |