Section 6
Removal of member from office.
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*** The Central Government shall remove a member from
office if he
(a) is, or at any time has been, adjudicated as insolvent;
(b) is of unsound mind and stands so declared by a competent court;
(c) has been convicted of an offence which, in the opinion of the Central Government, involves a moral turpitude;
2* * * * *
(e) has, in the opinion of the Central Government, so abused his position as to render his continuation in office detrimental to the public interest:
Provided that no member shall be removed under this clause unless he has been given a reasonable opportunity of being heard in the matter.
(a) is, or at any time has been, adjudicated as insolvent;
(b) is of unsound mind and stands so declared by a competent court;
(c) has been convicted of an offence which, in the opinion of the Central Government, involves a moral turpitude;
2* * * * *
(e) has, in the opinion of the Central Government, so abused his position as to render his continuation in office detrimental to the public interest:
Provided that no member shall be removed under this clause unless he has been given a reasonable opportunity of being heard in the matter.
Notes
1. The brackets and figure "(1)" omitted by Act 9 of 1995, s. 3 (w.e.f. 25-1-1995).
11. Clause (d) omitted by Act 9 of 1995, s. 3 (w.e.f. 25-1-1995).
11. Clause (d) omitted by Act 9 of 1995, s. 3 (w.e.f. 25-1-1995).