(1) With effect from such date as the Central Government may, by notification in the Official Gazette, specify in this behalf, there shall be established a Board to be called the National Shipping Board (hereinafter in this Part referred to as the Board).
     (2) The Board shall consist of the following members, namely:--
         (a) six members elected by Parliament, four by the House of the People from among its members and the other two by the Council of States from among its members;
         (b) such number of other members, not exceeding sixteen as the Central Government may think fit to appoint to the Board, to represent--
             (i) the Central Government,
             (ii) ship owners,
             (iii) seamen, and
             (iv) such other interests as, in the opinion of the Central Government, ought to be represented on the Board:
     Provided that the Board shall include an equal number of persons representing the ship owners and seamen.
     (3) The Central Government shall nominate one of the members of the Board to be the Chairman of the Board.
     (4) The Board shall have power to regulate its own procedure.