(2)The Company Law Board shall consist of such number of members, not exceeding [nine] [Substituted by Act 41 of 1974, Section 4, for " five" (w.e.f. 1.2.1975).], as the Central Government deems fit, to be appointed by that Government by notification in the Official Gazette:[Provided that the Central Government may, by notification in the Official Gazette, continue the appointment of the Chairman or any other member of the Company Law Board functioning as such immediately before the commencement of the Companies (Amendment) Act, 1988, as the chairman or any other member of the Company Law Board, after such commencement for such period not exceeding three years as may be specified in the notification.] [Added by Act 31 of 1988, Section 4 (w.e.f. 4.8.1989).]
