What is the qualification required for a person to be appointed as Chairperson of the Appellate Tribunal under PMLA?

Section 28(1) of PMLA provides that a person shall not be qualified for appointment as Chairperson of the Appellate Tribunal unless he is or has been a Judge of the Supreme Court or of a High Court or is qualified to be a judge of the High Court. Section 28(3) adds that no sitting Judge of the Supreme Court or of a High Court shall be appointed except after consultation with the Chief Justice of India. The Appellate Tribunal is constituted under Section 25 to hear appeals against orders of the Adjudicating Authority. A person may also serve simultaneously as Chairperson of another Tribunal under Section 28(4). This ensures high judicial credibility of the Appellate Tribunal.