(1)  Notwithstanding anything contained in sub-section (1) of section 7, the Central Government may, by order, remove from office the Chairperson or any other Member, if the Chairperson or as the case may be, such other Member,—

   (a)  has been adjudged an insolvent; or

   (b)  has been convicted of an offence which, in the opinion of the Central Government, involves moral turpitude; or

   (c)  has become physically or mentally incapable of acting as a Member; or

   (d)  has acquired such financial or other interests as is likely to affect prejudicially his functions as a Member; or

   (e)  has so abused his position as to render his continuance in office prejudicial to the public interest.

   (2)  No Member shall be removed under clauses (d) and (e) of sub-section (1) unless he has been given a reasonable opportunity of being heard in the matter.