New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Who among the following cannot be appointed as member of

    Securities Appellate Tribunal?
    A Judge of Supreme Court Correct Answer Incorrect Answer
    B Judge of High Court for atleast 5 years Correct Answer Incorrect Answer
    C Additional Secretary in the Ministry of the Central Government Correct Answer Incorrect Answer
    D Person of proven ability having professional experience of not less than ten years in financial sector including securities market Correct Answer Incorrect Answer
    E All can be appointed Correct Answer Incorrect Answer

    Solution

    Section 15M of SEBI Act 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

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