Securities and Exchange Board of India Act,1992

Act No : 15

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Section : Resignation and removal.

15Q. Resignation and removal. (1) The Presiding Officer of a Securities Appellate Tribunal may, by notice in writing under his hand addressed to the Central Government, resign his office: Provided that the said Presiding Officer shall unless he is permitted by the Central Government to relinquish his office sooner, continue to hold office until the expiry of three months from the date of receipt of such notice or until a person duly appointed as his successor inters upon his office or until the expiry of his term of office, whichever is the earliest. (2) The Presiding Officer of a Securities Appellate Tribunal shall not be removed from his office exept by an order by the central Government on the ground of proved misbehaviour or incapacity after an inquiry made by a Judge of the Supreme court, in which the Presiding Officcer cconcerned has been informed of the charges against him and given a reasonable opportunity of being heard in respect of these charges. (3) The Central Government may, by rules, regulate the procedure for the investigation of misbehaviour or incapacity of the aforesaid Presiding Officer.

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