Section - 15N - Tenure of office of Presiding Officer, Judicial or Technical Members of Securities Appellate Tribunal
[Tenure of office of Presiding Officer, Judicial or Technical Members of Securities Appellate Tribunal.15N. The Presiding Officer or every Judicial or Technical Member of the 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 reappointment for another term of maximum five years:Provided that no Presiding Officer or the Judicial or Technical Member shall hold office after he has attained the age of seventy years.]
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."
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