Section 15MB
Search-cum-Selection Committee for appointment of Technical Members.
The Securities and Exchange Board of India Act, 1992
About this Act
An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto.
1[15MB. Search-cum-Selection Committee for appointment of Technical Members.-- (1) The
Technical Members of the Securities Appellate Tribunal shall be appointed by the Central Government on
the recommendation of a Search-cum-Selection Committee consisting of the following, namely:--
(a) Presiding Officer, Securities Appellate Tribunal-Chairperson;
(b) Secretary, Department of Economic Affairs-Member;
(c) Secretary, Department of Financial Services-Member; and
(d) Secretary, Legislative Department or Secretary, Department of Legal Affairs-Member.
(2) The Secretary, Department of Economic Affairs shall be the Convener of the Search-cumSelection Committee.
(3) The Search-cum-Selection Committee shall determine its procedure for recommending the names of persons to be appointed under sub-section (1).]
(a) Presiding Officer, Securities Appellate Tribunal-Chairperson;
(b) Secretary, Department of Economic Affairs-Member;
(c) Secretary, Department of Financial Services-Member; and
(d) Secretary, Legislative Department or Secretary, Department of Legal Affairs-Member.
(2) The Secretary, Department of Economic Affairs shall be the Convener of the Search-cumSelection Committee.
(3) The Search-cum-Selection Committee shall determine its procedure for recommending the names of persons to be appointed under sub-section (1).]
Notes
1. Ins. by Act 9 of 1995, s. 9 (w.e.f. 25-1-1995).