47A. Constitution and incorporation of Tariff Authority for Major Ports.- (1) With effect from such date as the Central Government may, by notification in the Official Gazette, appoint there shall be constituted for the purposes of this Act an Authority to be called the Tariff Authority for Major Ports.
(2) The Authority shall be a body corporate by the name aforesaid having perpetual succession and a common seal and shall by the said name sue and be sued.
(3) The head office of the Authority shall be at such place as the Central Government may decide from time to time.
(4) The Authority shall consist of the following Members to be appointed by the Central Government, namely:-
(a) a Chairperson from amongst persons who is or who has been a Secretary to the Government of India or has held any equivalent post in the Central Government and who has experience in the management and knowledge of the functioning of the ports;
(b) a Member from amongst economists having experience of not less than fifteen years in the field of transport or foreign trade;
(c) a Member from amongst persons having experience of not less than fifteen years in the field of finance with special reference to investment or cost analysis in the Government or in any financial institution or industrial or services sector.