Section 4(a) in Banking Service Commission (Repeal) Act, 1978.
(a)(i)the person appointed as the Chairman of the Banking Service Commission; and(ii)every other person appointed by the Banking service Commission, and holding office as such immediately before the appointed day shall vacate their respective offices and no such Chairman or other person shall be entitled to claim any compensation for he premature termination of the term of his office or of any contract of service;
