Question
What is the term of office for the Chairperson and other
whole-time as per the IRDA Act?Solution
Section5 Tenure of office of Chairperson and other members: (1) The Chairperson and every other whole-time member shall hold office for a term of five years from the date on which he enters upon his office and shall be eligible for reappointment: Provided that no person shall hold office as a Chairperson after he has attained the age of sixty-five years:Provided further that no person shall hold office as a whole-time member after he has attained the age of sixty-two years.
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