Appointment and administration
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(a) Federal Energy Regulatory Commission; establishment
There is established within the Department an independent regulatory commission to be known as the Federal Energy Regulatory Commission.
(b) Composition; term of office; conflict of interest; expiration of terms
(1)
The Commission shall be composed of five members appointed by the President, by and with the advice and consent of the Senate. One of the members shall be designated by the President as Chairman. Members shall hold office for a term of 5 years and may be removed by the President only for inefficiency, neglect of duty, or malfeasance in office. Not more than three members of the Commission shall be members of the same political party. Any Commissioner appointed to fill a vacancy occurring prior to the expiration of the term for which his predecessor was appointed shall be appointed only for the remainder of such term. A Commissioner may continue to serve after the expiration of his term until his successor is appointed and has been confirmed and taken the oath of Office, except that such Commissioner shall not serve beyond the end of the session of the Congress in which such term expires. Members of the Commission shall not engage in any other business, vocation, or employment while serving on the Commission.
(2) Notwithstanding the third sentence of paragraph (1), the terms of members first taking office after April 11, 1990, shall expire as follows:
(A)
In the case of members appointed to succeed members whose terms expire in 1991, one such member’s term shall expire on June 30, 1994, and one such member’s term shall expire on June 30, 1995, as designated by the President at the time of appointment.
(B)
In the case of members appointed to succeed members whose terms expire in 1992, one such member’s term shall expire on June 30, 1996, and one such member’s term shall expire on June 30, 1997, as designated by the President at the time of appointment.
(C)
In the case of the member appointed to succeed the member whose term expires in 1993, such member’s term shall expire on June 30, 1998.