Which one of the following is the correct composition of Board of Conciliation under the Industrial Disputes Act, 1947 ?

According to Section 5 of the Industrial Disputes Act, 1947, the appropriate Government may, by notification in the Official Gazette, constitute a Board of Conciliation for promoting the settlement of an industrial dispute. As per Section 5(2) of the Act, the Board shall consist of a chairman and two or four other members, as the appropriate Government may think fit.

Furthermore, Section 5(3) specifies that the chairman must be an independent person. The other members are appointed in equal numbers to represent the parties to the dispute (employers and workmen), and these appointments are made on the recommendation of the respective parties. If any party fails to make a recommendation within the prescribed time, the Government may appoint such persons as it thinks fit to represent that party.