Section 24. Term of office of Chairperson and other Members of Housing Regulatory Authority.

(1) The Chairperson and other Members shall hold office for a term not exceeding five years, from the date on which they enter upon their offices or until they attain the age of sixty-five years, whichever is earlier. (2) The salary and allowances payable to, and the other terms and conditions of services of, the Chairperson and other Members shall be such as may be prescribed. (3) The salary, allowances and other conditions of services of the Chairperson and other Members shall not be varied to their disadvantage after their appointment. (4) An employee of the Government on his selection as Chairperson or Member, shall have to retire from service before joining. (5) The Chairperson or any Member may relinquish his office by giving in writing to the State Government a notice of not less than three months or be removed from his office in accordance with the provisions of section 26. (6) The Chairperson or any Member, ceasing to hold office as such, shall not accept any commercial employment in the Housing Sector for a period of one year from the date he ceases to hold such office.