Section 3(2) in The Forward Contracts (Regulation) Act, 1952
(2)The Commission shall consist of not less than two, 1[but not exceeding four], members appointed by the Central Government 2[one of them being nominated by the Central Government to be the Chairman thereof; and the Chairman and the other member or members shall be either whole-time or part-time as the Central Government may direct]: 3[Provided that the members to be so appointed shall be persons of ability, integrity and standing who have shown capacity in dealing with problems relating to commerce or commodity markets, or in administration or who have special knowledge or practical experience in any matter which renders them suitable for appointment of the Commission.]
