7. (1) The Chairperson and the whole-time members shall not, for a period of two years
from the date on which they cease to hold office as such, except with the previous approval
of the Central Government, accept—
(a) any employment either under the Central Government or under any State
Government; or
(b) any appointment in any regulated entity in the pension sector.
(2) The Chairperson and the whole-time members of the Interim Pension Fund
Regulatory and Development Authority holding the office as such before the
commencement of this Act, shall not, on and after such commencement, accept any
appointment in any regulated entity in the pension sector for a period of two years from the
date on which they cease to hold office as such, except with the previous approval of the
Central Government.