Amended and updated notes on section 413 of Companies Act 2013. Detail discussion on provisions and rules related to term of office of President, chairperson and other Members.
Chapter XXVII (Sections 407-434) of the Companies Act, 2013 (CA 2013) deals with the provisions related to National Company Law Tribunal and Appellate Tribunal i.e. NCLT and NCLAT. Section 413 of CA 2013 provides for term of office of President, chairperson and other Members.
Recently, we have discussed in detail section 412 (Selection of Members of Tribunal and Appellate Tribunal) of CA 2013. Today, we learn the provisions of section 413 of the Companies Act 2013.
The provisions of section 413 are effective from 12th September, 2013. You may refer Notification No. S.O. 2754(E) dated 12-09-2013. In this article, you will learn detail of the provisions of section 413 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXVII |
| Chapter Name | National Company Law Tribunal and Appellate Tribunal |
| Section No. | 413 |
| Section Name | Term of office of President, chairperson and other Members |
| Monthly Updated Edition | Company Law PDF |
Section 413 of Companies Act 2013: Term of office of President, chairperson and other Members
Section 413 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 12.09.2013.
(1) The President and every other Member of the Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years.
(2) A Member of the Tribunal shall hold office as such until he attains, —
- (a) in the case of the President, the age of sixty-seven years;
- (b) in the case of any other Member, the age of sixty-five years:
Provided that a person who has not completed fifty years of age shall not be eligible for appointment as Member:
Provided further that the Member may retain his lien with his parent cadre or Ministry or Department, as the case may be, while holding office as such for a period not exceeding one year.
(3) The chairperson or a Member of the Appellate Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years.
(4) A Member of the Appellate Tribunal shall hold office as such until he attains, —
- (a) in the case of the Chairperson, the age of seventy years;
- (b) in the case of any other Member, the age of sixty-seven years:
Provided that a person who has not completed fifty years of age shall not be eligible for appointment as Member:
Provided further that the Member may retain his lien with his parent cadre or Ministry or Department, as the case may be, while holding office as such for a period not exceeding one year.