Nominated person to cease to be a member in certain cases

Any person nominated under clause (a), (b) or (c) of sub-section (2) of section 10 in his capacity as a member of a particular body or the holder of a licence under sub-section (1) of section 8 shall, if he ceases to be a member of that body or the holder of that licence, as the case may be, for a period of more than three months, cease to be a member of the market committee.