Section 15O
Salary and allowances and other terms and conditions of service of Presiding Officers.
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[15-O. Salary and allowances and other terms and conditions of service of Presiding Officers.-- The salary and allowances payable to, and the other terms and conditions of service (including pension,
gratuity and other retirement benefits) of, the 2[Presiding Officer and other Members of a Securities
Appellate Tribunal] shall be such as may be prescribed:
Provided that neither the salary and allowances nor the other terms and conditions of services of the 3[Presiding Officer and other Members of a Securities Appellate Tribunal] shall be varied to their disadvantage after appointment.]
Provided that neither the salary and allowances nor the other terms and conditions of services of the 3[Presiding Officer and other Members of a Securities Appellate Tribunal] shall be varied to their disadvantage after appointment.]
Notes
1. Ins. by Act 9 of 1995, s. 9 (w.e.f. 25-1-1995).
2. Subs. by Act 59 of 2002, s. 22, for "Presiding Officer of a Securities Appellate Tribunal" (w.e.f. 29-10-2002).
3. Subs. by s. 22, ibid., for "said Presiding Officers" (w.e.f. 29-10-2002).
2. Subs. by Act 59 of 2002, s. 22, for "Presiding Officer of a Securities Appellate Tribunal" (w.e.f. 29-10-2002).
3. Subs. by s. 22, ibid., for "said Presiding Officers" (w.e.f. 29-10-2002).