Act Number: 51

Act Name: The Recovery Of Debts And Bankruptcy Act, 1993

Year: 1993

Enactment Date: 1993-08-27

Long Title: An Act to provide for the establishment of Tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 15A: Qualifications, terms and conditions of service of Chairperson.
    1[15A. Qualifications, terms and conditions of service of Chairperson.-- Notwithstanding anything contained in this Act, the qualifications, appointment, term of office, salaries and allowances, resignation, removal and the terms and conditions of service of the Chairperson of the Appellate Tribunal appointed after the commencement of 2[the Tribunals Reforms Act, 2021, shall be governed by the provisions of Chapter II of the said Act]:
     Provided that the Chairperson appointed before the commencement of Part XIV of Chapter VI of the Finance Act, 2017 (7 of 2017), shall continue to be governed by the provisions of this Act, and the rules made thereunder as if the provisions of section 184 of the Finance Act, 2017 had not come into force.]
Notes:
1. Ins. by Act 7 of 2017, s. 179 (w.e.f. 26-5-2017).
2.Subs. by Act 33 of 2021, s. 18, for Part XIV of Chapter VI of the Finance Act, 2017 (7 of 2017), shall be governed by the provisions of section 184 of that Act (w.e.f. 4-4-2021).
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