Question
The composition of Board of SEBI is dealt with under
which Section of SEBI Act, 1992?Solution
Section 4 of SEBI Act 1992 deals with Management of Board that includes its composition. As per this section, the Board of SEBI should consist of: a. The chairman - nominated by Union Government of India b. Two members, i.e., Officers from Union Finance Ministry c. One member from the Reserve Bank of India (RBI) d. The remaining five members are nominated by Union Government of India, out of them at least three shall be whole-time members Section 3 deals with Establishment and Incorporation of Board. Section 5 deals with Terms & Conditions of Services for Chairperson and other members. Section 6 deals with removal of board members.
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