Section 14(2) in The Unit Trust Of India Act, 1963
(2)The Chairman or the executive trustee shall-(a)hold office for such term not exceeding five years as the [Development Bank] [Substituted by Act 52 of 1975, Section 52, for "Reserve Bank" (w.e.f. 16-2-1976)] may specify [and shall be eligible for re-appointment] [Inserted by Act 16 of 1975, Section 4 (with retrospective effect)];(b)receive such salary or allowances or both from the Trust and be governed by such terms and conditions of service as the [Development Bank] [Substituted by Act 52 of 1975, Section 52, for "Reserve Bank" (w.e.f. 16-2-1976)] may determine; and(c)perform such functions as the Board may entrust or delegate to him.
