Securities And Exchange Board of India Act, 1992

1. Section 15N substituted by the Finance Act, 2017, w.e.f. 26-4-2017. Prior to its substitution, said Section, as substituted by the SEBI (Amendment) Act, 2002, w.e.f. 29-10-2002, read as under :

"15N. Tenure of office of Presiding Officer and other members of Securities Appellate Tribunal.-The Presiding Officer and every other Member of a Securities Appellate Tribunal shall hold office for a term of five years from the date on which he enters upon his office and shall be eligible for re-appointment:

Provided that no person shall hold office as the Presiding Officer of the Securities Appellate Tribunal after he has attained the age of sixty-eight years:

Provided further that no person shall hold office as a Member of the Securities Appellate Tribunal after he has attained the age of sixty-two years."