The Competition Act, 2002
10. Term of office of Chairperson and other Members.-
1. The Chairperson and every other Member shall hold office as such for a term of five years from the date on which he enters upon his office and shall be eligible for re-appointment: Provided that no Chairperson or other Member shall hold office as such after he has attained,-
a. in the case of the Chairperson, the age of sixty-seven years;
b. in the case of any other Member, the age of sixty-five years.
2. A vacancy caused by the resignation or removal of the Chairperson or any other Member under section 11 or by death or otherwise shall be filled by fresh appointment in accordance with the provisions of sections 8 and 9.
3. The Chairperson and every other Member shall, before entering upon his office, make and subscribe to an oath of office and of secrecy in such form, manner and before such authority, as may be prescribed.
4. In the event of the occurrence of a vacancy in the office of the Chairperson by reason of his death, resignation or otherwise, the senior-most Member shall act as the Chairperson, until the date on which a new Chairperson, appointed in accordance wit the provisions of this Act to fill such vacancy, enters upon his office.
5. When the Chairperson is unable to discharge his functions owing to absence, illness or any other cause, the senior-most Member shall discharge the functions of the Chairperson until the date on which the Chairperson resumes the charge of his function .