(1)There shall be a Tribunal, to be called the Railway Rates Tribunal, for thepurpose of discharging the functions specified in this Chapter.
(2)The Tribunal shall consist of aChairman and two other members to be appointed by the Central Government.
(3)A person shall not be qualified forappointment as the Chairman of the Tribunal unless he is, or has been, a Judgeof the Supreme Court or of a High Court and of the other two members, one shallbe a person, who, in the opinion of the Central Government, has specialknowledge of the commercial, industrial or economic conditions of the country,and the other shall be a person, who, in the opinion of the Central Government,has special knowledge and experience of the commercial working of the railways.
(4)The Chairman and the other members ofthe Tribunal shall hold office for such period, not exceeding five years, as maybe prescribed.
(5)In case the Chairman or any othermember is, by infirmity or otherwise, rendered incapable of carrying out hisduties or is absent on leave or otherwise in circumstances not involving thevacation of his office, the Central Government may appoint another person to actin his place during his absence.
(6)A person who holds office as theChairman or other member of the Tribunal shall, on the expiration of the term ofhis office (not being an office to fill a casual vacancy), be ineligible forre-appointment to that office.
(7)Subject to the provisions ofsub-sections (5) and (6), the Chairman and other members of the Tribunal shallhold office on such terms and conditions as may be prescribed.
(8)No act or proceeding of the Tribunalshall be invalidated merely by reason of--
(a) anyvacancy in, or any defect in the constitution of, the Tribunal; or
(b)anydefect in the appointment of a person acting as a Chairman or other member ofthe Tribunal.