Which one of the following statements about Public Accounts Committee is correct?

The Public Accounts Committee (PAC) is a crucial financial committee of the Indian Parliament. It consists of 22 members, with 15 members elected from the Lok Sabha and 7 members from the Rajya Sabha. The members are elected annually from amongst the members of the respective Houses according to the principle of proportional representation by means of the single transferable vote. Consequently, the term of office for a member of the Committee is one year. Regarding other options, a Minister is strictly ineligible to be elected as a member of the Committee to ensure independent oversight of the executive; if a member is appointed as a Minister, they must vacate their seat in the Committee. Furthermore, members from the Rajya Sabha do not continue if they retire from the House, as the committee is composed of current members of Parliament.