regarding policy development or any other Government initiative relevant to the telecommunications sector. PART III THE LIBERIA TELECOMMUNICATIONS AUTHORITY 8. Establishment of the Authority (1) A public authority called the Liberia Telecommunications Authority (“LTA”) is hereby established. (2) The LTA shall be an independent legal entity, and shall undertake the regulation of telecommunications services and the telecommunications sector in Liberia in accordance with the provisions of this Act. Specifically, the LTA shall have the right to: (a) exercise all powers and functions given to it under this Act; (b) own movable and immovable property; and (c) enter into contracts and take any legal actions, including the right to commence legal proceedings, to defend any claim against the LTA, and to participate and represent itself in any arbitration or similar legal proceeding. (3) The LTA shall have the benefit of any other capabilities enjoyed by public authorities under the laws of Liberia. (4) The LTA shall be exempt from the payment of income taxes and all customs duties and charges, as well as property and capital taxes. It shall also be exempt from payment of trade or similar levies. 9. The Commission (1) The President shall appoint a Commission consisting of five (5) Commissioners to oversee the operation of the LTA and to exercise the functions and powers of the LTA. The appointment of Commissioners pursuant to this Section 9 (1) shall be subject to Senate confirmation. (2) The President shall designate one of the five appointed Commissioners to be Chairman of the Commission. (3) The term of office for the Commissioners shall be four (4) years. The appointment of any Commissioner may be renewed by the President for another term of four (4) years. No member of the Commission shall serve for more than two (2) terms. (4) The Commissioners shall be persons with telecommunications sector or other relevant experience, and otherwise of appropriate qualification.