The Chairman or any other Member shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years:
     Provided that no Chairman or any other Member shall hold office as such after he has attained,--
         (a) in the case of the Chairman, the age of sixty-five years; and
         (b) in the case of any other Member, the age of sixty-two years.