Banking Regulation Act, 1949
36AH. Constitution of the Tribunal
(1) The Central Government may, for the
purpose of this Part, constitute a Tribunal which shall consist of a Chairman
and two other members.
(2) The Chairman shall be a person who is, or
has been, a Judge of a High Court or of the Supreme Court, and, of the two
other members, one shall be a person, who, in the opinion of the Central
Government, has had experience of commercial banking and the other shall be a
person who is a chartered accountant within the meaning of the Chartered
Accountants' Act, 1949 (38 of 1949).
(3) If, for any reason, a vacancy occurs in
the office of the Chairman or. any other member of the Tribunal, the Central
Government may fill the vacancy by appointing another person thereto in
accordance with the provisions of sub-section (2), and any proceeding may be
continued before the Tribunal, so constituted, from the stage at which the
vacancy occurred.
(4) The Tribunal may, for the purpose of
determining any compensation payable under this Part, choose one or more
persons having special knowledge or experience of any relevant matter to assist
it in the determination of such compensation.