Discuss the provisions related to the removal of a member from the Arbitration Council of India established under the Arbitration and Conciliation Act, 1996.

Section 43G(1) of Arbitration and Conciliation Act, 1996 (Act) provides that the Central Government may, remove a Member from his office if he- is an undischarged insolvent; or has engaged at any time (except Part-time Member), during his term of office, in any paid employment; or has been convicted of an offence which, in the opinion of the Central Government, involves moral turpitude; or has acquired such financial or other interest as is likely to affect prejudicially his functions as a Member; or has so abused his position as to render his continuance in office prejudicial to the public interest; or has become physically or mentally incapable of acting as a Member. According to Section 43G(2), notwithstanding anything contained in sub-section (1), no Member shall be removed from his office on the grounds specified in clauses (d) and (e) of that sub-section unless the Supreme Court, on a reference being made to it in this behalf by the Central Government, has, on an inquiry, held by it in accordance with such procedure as may be prescribed in this behalf by the Supreme Court, reported that the Member, ought on such ground or grounds to be removed.