Act Number: 15

Act Name: The Securities and Exchange Board of India Act, 1992

Year: 1992

Enactment Date: 1992-04-04

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Economic Affairs

Section 15M: Qualification 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.]
Notes:
1. Subs. by s. 148, ibid., for section 15M (w.e.f. 1-3-2017).
Previous Section Next Section
Scroll to Top