State the process of selection of chairperson and members of Competition Commission of India as given in the Competition Act, 2002. Under what circumstances, they may be removed by the Central Government ?

Process of Selection of Chairperson and Members of Competition Commission of India (Section 9(1) of the Competition Act, 2002): The Chairperson and other Members of the Competition Commission of India shall be appointed by the Central Government from a panel of names recommended by a Selection Committee. This Selection Committee consists of: The Chief Justice of India or his nominee, as Chairperson. The Secretary in the Ministry of Corporate Affairs, as Member. The Secretary in the Ministry of Law and Justice, as Member. Two experts of repute who have special knowledge of, and professional experience in international trade, economics, business, commerce, law, finance, accountancy, management, industry, public affairs or competition matters including competition law and policy, as Members. Circumstances under which Chairperson and Members may be removed by the Central Government (Section 11(2) of the Competition Act, 2002): The Central Government may, by order, remove the Chairperson or any Member from his office if such Chairman or Member, as the case may be, falls under any of the following circumstances: Is, or at any time has been, adjudged as an insolvent. Has engaged at any time, during his term of office, in any paid employment. Has been convicted of an offence which, in the opinion of the Central Government, involves moral turpitude. Has acquired such financial or other interest as is likely to affect prejudicially his functions as a Member. Has so abused his position as to render his continuance in office prejudicial to the public interest. Has become physically or mentally incapable of acting as a Member.