Lawgist15MQualification for appointment as Presiding Officer or Member of Securities Appellate Tribunal
1[15M. Qualification for appointment as Presiding Officer, Judicial Member and Technical Member.-- A person shall not be qualified for appointment as the Presiding Officer or a Judicial Member or a Technical Member of the Securities Appellate Tribunal, unless he
(a) is, or has been, a Judge of the Supreme Court or a Chief Justice of a High Court or a Judge of High Court for at least seven years, in the case of the Presiding Officer; and
(b) is, or has been, a Judge of High Court for at least five years, in the case of a Judicial Member; or
(c) in the case of a Technical Member
(i) is, or has been, a Secretary or an Additional Secretary in the Ministry or Department of the Central Government or any equivalent post in the Central Government or a State Government; or
(ii) is a person of proven ability, integrity and standing having special knowledge and professional experience, of not less than fifteen years, in financial sector including securities market or pension funds or commodity derivatives or insurance.]
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1. Subs. by s. 148, ibid., for section 15M (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
