Lawgist15LComposition of Securities Appellate Tribunal
1[15L. Composition of Securities Appellate.--(1) The Securities Appellate Tribunal shall consist of a Presiding Officer and such number of Judicial Members and Technical Members as the Central Government may determine, by notification, to exercise the powers and discharge the functions conferred on the Securities Appellate Tribunal under this Act or any other law for the time being in force.
(2) Subject to the provisions of this Act,
(a) the jurisdiction of the Securities Appellate Tribunal may be exercised by Benches thereof;
(b) a Bench may be constituted by the Presiding Officer of the Securities Appellate Tribunal with two or more Judicial or Technical Members as he may deem fit:
Provided that every Bench constituted shall include at least one Judicial Member and one Technical Member;
(c) the Benches of the Securities Appellate Tribunal shall ordinarily sit at Mumbai and may also sit at such other places as the Central Government may, in consultation with the Presiding Officer, notify.
(3) Notwithstanding anything contained in sub-section (2), the Presiding Officer may transfer a Judicial Member or a Technical Member of the Securities Appellate Tribunal from one Bench to another Bench.]
Download our fully-offline, High speed android app.- Click here
1. Subs. by s.148, ibid., for section 15L (w.e.f.1-3-2017)
- 15K Establishment of Securities Appellate Tribunals
- 15L Composition of Securities Appellate Tribunal
- 15M Qualification for appointment as Presiding Officer or Member of Securities Appellate Tribunal
- 15MA Amendment of Presiding Officer and Judicial Member
- 15MB Search-cum-Selection Committee for appointment of Technical Members
- 15MC Vacancy not to invalidate selection proceeding
- 15N Tenure of office of Presiding Officer and other Members of Securities Appellate Tribunal
- 15O Salary and allowances and other terms and conditions of service of Presiding Officers
- 15P Filling up of vacancies
- 15PA Member to act as Presiding Officer in certain circumstance
- 15Q Resignation and removal
- 15QA Qualifications, terms and conditions of service of Presiding Officer and Member
- 15R Orders constituting Appellate Tribunal to be final and not to invalidate its proceedings
- 15S Staff of the Securities Appellate Tribunal
- 15T Appeal to the Securities Appellate Tribunal
- 15U Procedure and powers of the Securities Appellate Tribunal
- 15V Right to legal representation
- 15W Limitation
- 15X Presiding Officer, Members and staff of Securities Appellate Tribunals to be public servants
- 15Y Civil Court not to have jurisdiction
- 15Z Appeal to Supreme Court
