Under the IFSCA Act the Central Government may remove

Solution

Section 7 Removal of Member from office: The Central Government may remove from office a Member, who— (a) is, or at any time has been, adjudged as insolvent; or (b) has become physically or mentally incapable of acting as a Member; or (c) has been convicted of an offence which in the opinion of the Central Government involves moral turpitude; or (d) has acquired such financial or other interest as is likely to affect prejudicially his functions as a Member; or (e) has so abused his position so as to render his continuance in office detrimental to public interest: Provided that no Member shall be removed from office under clause (d) or clause (e) unless he has been given a reasonable opportunity of being heard in the matter.