(1)  The Chairperson and every Member shall hold office as such for a term of three years from the date on which he assumes office:

   Provided that no Chairperson or a Member shall hold the office for more than two terms:

   Provided further that no Chairperson or any other Member shall hold office as such after he has attained—

   (a)  in the case of the Chairperson, the age of sixty-five years; and

   (b)  in the case of a Member, the age of sixty years.

   (2)  The Chairperson or a Member may, by writing under his hand addressed to the Central Government, resign his office at any time.