(1) Notwithstanding anything contained in any other law for the time being in force,—
(a) the Chairperson of a Tribunal shall hold office for a term of five years or till he attains the age of seventy years, whichever is earlier; and
(b) a Member of a Tribunal shall hold office for a term of five years or till he attains the age of sixty-seven years, whichever is earlier.
(2) The Chairperson or Member of a Tribunal shall be eligible for consideration for reappointment in accordance with the provisions of section 14.