Amendment of sections 3, 4 and 5

In the Principal Act, for Sections 3, 4 and 5, the following Sections shall be substituted, namely :- "3. The Commission shall consist of a Chairman and four other members out of whom one shall be appointed as the Member-Secretary: Provided that Governor may increase the number of such other members if he considers it so expedient in the interest of the Panchayati Raj Institutions and Municipalities. 4. (1) The Chairman of the Commission shall be,- (a) a serving or a retired Judge of the High Court ; or (b) a person of eminence with substantial experience in public affairs ; or (c) a serving or retired Government Servant with wide experience in the field of administration ; or (d) an eminent economist. (2) The members other than Member-Secretary of the Commission shall be selected from among the persons who- (a) have special knowledge in public finance and accounts ; or (b) have had wide experience in the field of public finance and administration ; or (c) have special knowledge and experience relating to local self-Government in both urban and rural areas ; or (d) have special knowledge of economics. 5. The Member-Secretary of the Commission shall be appointed by the Governor from amongst officers belonging to the All India Service or any State Cadre, who have had at least ten years of service under the State Government and have adequate knowledge in public finance."