Question
An adjudicating officer shall be appointed by
Solution
Section 19H of Depository Act - Power to adjudicate—(1) For the purpose of adjudging under sections 19A, 19B, 19C, 19D,19E, 19F, 19FA and 19G , the Board may appoint any officer not below the rank of a Division Chief of the Securities and Exchange Board of India to be an adjudicating officer for holding an inquiry in the prescribed manner after giving any person concerned a reasonable opportunity of being heard for the purpose of imposing any penalty. Similar sections are there in SCRA and SEBI Act. SCRA – 23I SEBI Act – 15I
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