Cabinet may approve change in SAT officers` appointment norms
New Delhi: The government is likely to discuss the proposed amendments in existing norms related to selection of the presiding officer of the Securities Appellate Tribunal (SAT), on Thursday.
"The Cabinet is expected to take up the issue of enlarging the field of selecting presiding officer of SAT under the amendments to Securities and Exchange Board of India(Sebi) Act, 1992, in its meeting scheduled on Thursday" a source said.
A statutory body, SAT was set up to hear appeals against orders passed by Sebi.
The post of SAT presiding office has been vacant since November 28, 2011.
In September, last year, the Finance Ministry had invited applications to fill the vacancy .
SAT is required to have a presiding officer and two other members, to be appointed by the central government. A SAT member is appointed for a tenure of five years and is eligible for re-appointment, subject to a maximum age of 62 years.
As per the Finance Ministry, a member of Sebi or any other person holding a senior management-level equivalent to executive director at the market regulator would not be eligible to be appointed as SAT member during his service and for upto two years of the date on which he ceases to hold office.
The candidate should have special knowledge or experience in law, securities, finance, economics, accountancy.
More from India
More from World
More from Sports
More from Entertaiment
- ATM virus attack: Users of debit cards under threat!
- J&K govt suspends 12 officials on anti-national activities
- Bhubaneswar fire: Owner of SUM Hospital surrenders
- Delhi Police may arrest Kabaddi player Rohit over wife's suicide
- Politics over Mahesh Sharma's visit to Ayodhya museum site ahead of UP elections
- Airtel takes on Reliance Jio yet again; offers 10GB of 4G data at just Rs 259
- Pierce Brosnan 'deeply shocked and saddened' because of Pan Masala brand ad
- Sushant Singh Rajput’s former girlfriend Ankita Lokhande’s Karva Chauth photos will surprise you
- 'Ae Dil Hai Mushkil' release: I stand with Bollywood, why punish Pakistani artistes, says Digvijay Singh
- Navjot Singh Sidhu out on zero to Waqar Younis in 1990 – The match Kapil Sharma keeps talking about