Rule 19 - Terms and Conditions of Services of Part-time Members - Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016

19. Terms and Conditions of Services of Part-time Members. (1) A part-time member shall be a person who shall not have any such financial or other interest as is likely to affect prejudicially his functions as a part-time member. 1 [ (2) The term of office of part-time members shall be five years or till they attain the age of 65 years, whichever is earlier, and they shall be eligible for reappointment ] 2 [ **** ] ************* NOTES:- 1. Substituted vide Notification No. G.S.R. 31 (E) dated 09-01-2020 before it was read as (2) Every part -time member shall hold office for such period, not exceeding three years, as may be specified in the order of his appointment, but shall be eligible for reappointment. 2. Omitted vide Notification No. G.S.R. 31 (E) dated 09-01-2020 before it was read as (3) A part-time member appointed to fill up a casual vacancy, shall hold office for the reminder period of the term of whole-time or part-time member in whose place he is appointed.