List of Governors of The

8/6/2019 List of Governors of The

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List of Governors of the

1. Sir Osborne Smith (1935 1937)2. Sir James Tay or (1937 19!3)3. Sir ". #. #eshm$%h (19!3 19!9)

!. Sir &ene'a ama a$ (19!9 1957)5. . G. *mbe'aon%ar (1957)+. ,. -. . yen'ar (1957 19+2)7. /. ". &hatta0harya (19+2 19+7). L. . Jha (19+7 197 )9. &. . *4ar%ar (197 )1 . S. Ja'annathan (197 1975)11. . ". Sen G$ ta (1975)12. . . /$ri (1975 1977)13. 6. arasimham (1977)1!. #r. . G. /ate (1977 19 2)

15. #r. 6anmohan Sin'h (19 2 19 5)1+. *. Ghosh (19 5)17. . . 6a hotra (19 5 199 )1 . S. -en%itaramanan (199 1992)19. #r. ". an'ara an (#e0ember 228 1992 ovember 1 8 1997)2 . #r. &ima Ja an ( ovember 118 1997 Se tember 58 2 3)21. #r. . -en$'o a e44y (Se tember +8 2 3 Se tember 58 2 )22. #r. #. S$bbarao (Se tember +8 2 : Ti #ate)

About SEBI

ESTABLISHMENT OF SEBIThe Se0$rities an4 ;


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For er Chair en of SEBI

CHAIRMANShri ! "! Sinha ,Chairman, SEBI,SEBI Bhavan, Bandra Kurla Complex,

Bandra (E), Mumbai - 400051

Powers and Functions of the Board#H$ S$C RI#I$S AN% $&CHAN'$ ()AR% )* IN%IA AC#, + -

o.15 of 1992

!n !"# #o provide $or #he e%#abli%hmen# o$ a Board #o pro#e"# #he in#ere%#% o$inve%#or% in %e"uri#ie% and #o promo#e #he developmen# o$, and #o re&ula#e,#he %e"uri#ie% mar'e# and $or ma##er% "onne"#ed #here i#h or in"iden#al#here#o

Be i# ena"#ed b *arliamen# in #he +or# -#hird ear o$ #he epubli" o$ India a%$ollo %.

C/!* E I (*reliminar ) C/!* E II (E%#abli%hmen# $ he Se"uri#ie% !nd Ex"han&e Board $

India) C/!* E III ( ran%$er $ !%%e#%, 2iabili#ie%, e#" , $ he Exi%#in&

Se"uri#ie% !nd Ex"han&e Board o he Board) C/!* E I3 (*o er% !nd +un"#ion% $ he Board) C/!* E 3 ( e&i%#ra#ion Cer#i$i"a#e) C/!* E 3! (*rohibi#ion $ Manipula#ive !nd e"ep#ive evi"e%,

In%ider radin& !nd Sub%#an#ial !" ui%i#ion $ Se"uri#ie% r Con#rol ) C/!* E 3I (+inan"e, !""oun#% !nd !udi#) C/!* E 3I! (*enal#ie% and !d6udi"a#ion) C/!* E 3IB (E%#abli%hmen#, 7uri%di"#ion, !u#hori# and *ro"edure o$

!ppella#e ribunal C/!* E 3II (Mi%"ellaneou%)

CHA.#$R I .R$/IMINAR0Short title, e1tent 2 commencement! 1 (1) hi% !"# ma be "alled #he Se"uri#ie% and Ex"han&e Board o$ India !"#,

1889(9) I# ex#end% #o #he hole o$ India(:) I# %hall be deemed #o have "ome in#o $or"e on #he :0#h da o$ 7anuar ,

1889%efinitions! 9 (1) In #hi% !"#, unle%% #he "on#ex# o#her i%e re uire%, -

(a) ;Board; mean% #he Se"uri#ie% and Ex"han&e Board o$ India e%#abli%hedunder %e"#ion :


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(b) ;Chairman; mean% #he Chairman o$ #he Board(") ;exi%#in& Se"uri#ie% and Ex"han&e Board; mean% #he Se"uri#ie% andEx"han&e Board o$ India "on%#i#u#ed under #he e%olu#ion o$ #he ?overnmen# o$

India in #he epar#men# o$ E"onomi" !$$air% @o 1 (44)SEA , da#ed #he 19#h dao$ !pril, 18 o$ #he Cen#ral?overnmen# dealin& i#h +inan"e =and admini%#ra#ion o$ #he Companie% !"#,185 (1 o$ 185 )> re%pe"#ivel

(5) he Chairman and #he o#her member% re$erred #o in "lau%e% (a) and (d) o$%ub-%e"#ion (1) %hall be per%on% o$ abili# , in#e&ri# and %#andin& ho have %ho n"apa"i# in dealin& i#h problem% rela#in& #o %e"uri#ie% mar'e# or have %pe"ial'no led&e or experien"e o$ la , $inan"e, e"onomi"%, a""oun#an" ,admini%#ra#ion or in an o#her di%"ipline hi"h, in #he opinion o$ #he Cen#ral

?overnmen#, %hall be u%e$ul #o #he Board#erm of office and conditions of service of Chairman and mem3ers of the(oard! 5 (1) he #erm o$ o$$i"e and o#her "ondi#ion% o$ %ervi"e o$ #he Chairman and #hemember% re$erred #o in "lau%e (d) o$ %ub- %e"#ion (1) o$ %e"#ion 4 %hall be %u"h a%ma be pre%"ribed

(9) @o# i#h%#andin& an #hin& "on#ained in %ub-%e"#ion (1), #he Cen#ral?overnmen# %hall have #he ri&h# #o #ermina#e #he %ervi"e% o$ #he Chairman or amember appoin#ed under "lau%e (d) o$ %ub-%e"#ion (1) o$ %e"#ion 4, a# an #imebe$ore #he expir o$ #he period pre%"ribed under %ub-%e"#ion (1), b &ivin& himno#i"e o$ no# le%% #han #hree mon#h% in ri#in& or #hree mon#h%F %alar and

allo an"e% in lieu #hereo$, and #he Chairman or a member, a% #he "a%e ma be,%hall al%o have #he ri&h# #o relin ui%h hi% o$$i"e, a# an #ime be$ore #he expir o$#he period pre%"ribed under %ub-%e"#ion (1), b &ivin& #o #he Cen#ral ?overnmen#no#i"e o$ no# le%% #han #hree mon#h% in ri#in&Removal of mem3er from office! = > he Cen#ral ?overnmen# %hall remove a member $rom o$$i"e i$ he -(a) i%, or a# an #ime ha% been, ad6udi"a#ed a% in%olven#4acancies etc!, not to invalidate proceedings of (oard! @o a"# or pro"eedin& o$ #he Board %hall be invalid merel b rea%on o$ -(a) an va"an" in, or an de$e"# in #he "on%#i#u#ion o$, #he Board< or(b) an de$e"# in #he appoin#men# o$ a per%on a"#in& a% a member o$ #he Board7.ower to issue directions! 11B Save a% o#her i%e provided in %e"#ion 11, i$ a$#er ma'in& or "au%in& #o be

made an en uir , #he Board i% %a#i%$ied #ha# i# i% ne"e%%ar ,-(i) in #he in#ere%# o$ inve%#or%, or orderl developmen# o$ %e"uri#ie% mar'e#< or(ii) #o preven# #he a$$air% o$ an in#ermediar or o#her per%on% re$erred #o in%e"#ion 19 bein& "ondu"#ed in a manner de#rimen#al #o #he in#ere%# o$ inve%#or% or%e"uri#ie% mar'e#< or(iii) #o %e"ure #he proper mana&emen# o$ an %u"h in#ermediar or per%on, i# mai%%ue %u"h dire"#ion%,-(a) #o an per%on or "la%% o$ per%on% re$erred #o in %e"#ion 19, or a%%o"ia#ed i#h#he %e"uri#ie% mar'e#< or(b) #o an "ompan in re%pe"# o$ ma##er% %pe"i$ied in %e"#ion 11!, a% ma beappropria#e in #he in#ere%#% o$ inve%#or% in %e"uri#ie% and #he %e"uri#ie% mar'e#>

=Investigation!11C (1) here #he Board ha% rea%onable &round #o believe #ha# (a)#he #ran%a"#ion% in %e"uri#ie% are bein& deal# i#h in a manner de#rimen#al #o#he inve%#or% or #he %e"uri#ie% mar'e#< or(b)an in#ermediar or an per%on a%%o"ia#ed i#h #he %e"uri#ie% mar'e# ha%viola#ed an o$ #he provi%ion% o$ #hi% !"# or #he rule% or #he re&ula#ion% made ordire"#ion% i%%ued b #he Board #hereunder,I# ma , a# an #ime b order in ri#in&, dire"# an per%on (herea$#er in #hi% %e"#ionre$erred #o a% #he Inve%#i&a#in& !u#hori# ) %pe"i$ied in #he order #o inve%#i&a#e #hea$$air% o$ %u"h in#ermediar or per%on% a%%o"ia#ed i#h #he %e"uri#ie% mar'e# and

#o repor# #hereon #o #he Board (9) i#hou# pre6udi"e #o #he provi%ion% o$ %e"#ion% 9:5 #o 941 o$ #he Companie%

!"#, 185 (1 o$ 185 ), i# %hall be #he du# o$ ever mana&er, mana&in& dire"#or,o$$i"er and o#her emplo ee o$ #he "ompan and ever in#ermediar re$erred #o in%e"#ion 19 or ever per%on a%%o"ia#ed i#h #he %e"uri#ie% mar'e# #o pre%erve and#o produ"e #o #he Inve%#i&a#in& !u#hori# or an per%on au#hori%ed b i# in #hi%behal$, all #he boo'%, re&i%#er%, o#her do"umen#% and re"ord o$, or rela#in& #o, #he"ompan or, a% #he "a%e ma be, o$ or rela#in& #o, #he in#ermediar or %u"hper%on, hi"h are in #heir "u%#od or po er(:) he Inve%#i&a#in& !u#hori# ma re uire an in#ermediar or an per%ona%%o"ia#ed i#h %e"uri#ie% mar'e# in an manner #o $urni%h %u"h in$orma#ion #o, orprodu"e %u"h boo'%, or re&i%#er%, or o#her do"umen#%, or re"ord be$ore i# or anper%on au#horiDed b i# in #hi% behal$ a% i# ma "on%ider ne"e%%ar i$ #he$urni%hin& o$ %u"h in$orma#ion or #he produ"#ion o$ %u"h boo'%, or re&i%#er%, oro#her do"umen#%, or re"ord i% relevan# or ne"e%%ar $or #he purpo%e% o$ i#%inve%#i&a#ion(4) he Inve%#i&a#in& !u#hori# ma 'eep in i#% "u%#od an boo'%, re&i%#er%,o#her do"umen#% and re"ord produ"ed under %ub-%e"#ion (9) or %ub-%e"#ion (:)


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$or %ix mon#h% and #herea$#er %hall re#urn #he %ame #o an in#ermediar or anper%on a%%o"ia#ed i#h %e"uri#ie% mar'e# b hom or on ho%e behal$ #he boo'%,re&i%#er%, o#her do"umen#% and re"ord are produ"ed.*rovided #ha# #he Inve%#i&a#in& !u#hori# ma "all $or an boo', re&i%#er, o#herdo"umen# and re"ord i$ #he are needed a&ain.

*rovided $ur#her #ha# i$ #he per%on on ho%e behal$ #he boo'%, re&i%#er%, o#herdo"umen#% and re"ord are produ"ed re uire% "er#i$ied "opie% o$ #he boo'%,re&i%#er%, o#her do"umen#% and re"ord produ"ed be$ore #he Inve%#i&a#in&

!u#hori# , i# %hall &ive "er#i$ied "opie% o$ %u"h boo'%, re&i%#er%, o#her do"umen#%and re"ord #o %u"h per%on or on ho%e behal$ #he boo'%, re&i%#er%, o#herdo"umen#% and re"ord ere produ"ed(5) !n per%on, dire"#ed #o ma'e an inve%#i&a#ion under %ub-%e"#ion (1),maexamine on oa#h, an mana&er, mana&in& dire"#or, o$$i"er and o#her emplo ee o$an in#ermediar or an per%on a%%o"ia#ed i#h %e"uri#ie% mar'e# in an manner,in rela#ion #o #he a$$air% o$ hi% bu%ine%% and ma admini%#er an oa#h a""ordin&land $or #ha# purpo%e ma re uire an o$ #ho%e per%on% #o appear be$ore i#

per%onall( ) I$ an per%on $ail% i#hou# rea%onable "au%e or re$u%e% (a) #o produ"e #o #he Inve%#i&a#in& !u#hori# or an per%on au#hori%ed b i# in #hi%behal$ an boo', re&i%#er, o#her do"umen# and re"ord hi"h i# i% hi% du# under%ub-%e"#ion (9) or %ub-%e"#ion (:) #o produ"e< or(b) #o $urni%h an in$orma#ion hi"h i% hi% du# under %ub-%e"#ion (:) #o $urni%h

CHA.#$R 4R$'IS#RA#I)N C$R#I*ICA#$Registration of stock 3rokers, su383rokers, share transfer agents, etc! 19 (1) @o %#o"'-bro'er, %ub- bro'er, %hare #ran%$er a&en#, ban'er #o an i%%ue,#ru%#ee o$ #ru%# deed, re&i%#rar #o an i%%ue, mer"han# ban'er, under ri#er, por#$oliomana&er, inve%#men# advi%er and %u"h o#her in#ermediar ho ma bea%%o"ia#ed i#h %e"uri#ie% mar'e# %hall bu , %ell or deal in %e"uri#ie% ex"ep#under, and in a""ordan"e i#h, #he "ondi#ion% o$ a "er#i$i"a#e o$ re&i%#ra#ionob#ained $rom #he Board in a""ordan"e i#h #he =re&ula#ion%> made under #hi%

!"#.*rovided #ha# a per%on bu in& or %ellin& %e"uri#ie% or o#her i%e dealin& i#h #he%e"uri#ie% mar'e# a% a %#o"'- bro'er, %ub-bro'er, %hare #ran%$er a&en#, ban'er #oan i%%ue, #ru%#ee o$ #ru%# deed, re&i%#rar #o an i%%ue, mer"han# ban'er,


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under ri#er, por#$olio mana&er, inve%#men# advi%er and %u"h o#her in#ermediarho ma be a%%o"ia#ed i#h %e"uri#ie% mar'e# immedia#el be$ore #he

e%#abli%hmen# o$ #he Board $or hi"h no re&i%#ra#ion "er#i$i"a#e a% ne"e%%arprior #o %u"h e%#abli%hmen#, ma "on#inue #o do %o $or a period o$ #hree mon#h%$rom %u"h e%#abli%hmen# or, i$ he ha% made an appli"a#ion $or %u"h re&i%#ra#ion

i#hin #he %aid period o$ #hree mon#h%, #ill #he di%po%al o$ %u"h appli"a#ion=*rovided $ur#her #ha# an "er#i$i"a#e o$ re&i%#ra#ion, ob#ained immedia#el be$ore#he "ommen"emen# o$ #he Se"uri#ie% 2a % (!mendmen#) !"#, 1885, %hall bedeemed #o have been ob#ained $rom #he Board in a""ordan"e i#h #here&ula#ion% providin& $or %u"h re&i%#ra#ion

(1!) @o depo%i#or , =par#i"ipan#,> "u%#odian o$ %e"uri#ie%, $orei&n in%#i#u#ionalinve%#or, "redi# ra#in& a&en" or an o#her in#ermediar a%%o"ia#ed i#h #he%e"uri#ie% mar'e# a% #he Board ma b no#i$i"a#ion in #hi% behal$ %pe"i$ , %hall buor %ell or deal in %e"uri#ie% ex"ep# under and in a""ordan"e i#h #he "ondi#ion% o$a "er#i$i"a#e o$ re&i%#ra#ion ob#ained $rom #he Board in a""ordan"e i#h #here&ula#ion% made under #hi% !"#.

*rovided #ha# a per%on bu in& or %ellin& %e"uri#ie% or o#her i%e dealin& i#h #he%e"uri#ie% mar'e# a% a depo%i#or , =par#i"ipan#,> "u%#odian o$ %e"uri#ie%, $orei&nin%#i#u#ional inve%#or or "redi# ra#in& a&en" immedia#el be$ore #he"ommen"emen# o$ #he Se"uri#ie% 2a % (!mendmen#) !"#, 1885, $or hi"h no"er#i$i"a#e o$ re&i%#ra#ion a% re uired prior #o %u"h "ommen"emen#, ma"on#inue #o bu or %ell %e"uri#ie% or o#her i%e deal i#h #he %e"uri#ie% mar'e# un#il%u"h #ime re&ula#ion% are made under "lau%e (d) o$ %ub-%e"#ion (9) o$ %e"#ion :0

(1B) @o per%on %hall %pon%or or "au%e #o be %pon%ored or "arr on or "au%e #obe "arried on an ven#ure "api#al $und% or "olle"#ive inve%#men# %"heme%in"ludin& mu#ual $und%, unle%% he ob#ain% a "er#i$i"a#e o$ re&i%#ra#ion $rom #heBoard in a""ordan"e i#h #he re&ula#ion%.

*rovided #ha# an per%on %pon%orin& or "au%in& #o be %pon%ored, "arr in& on or"au%in& #o be "arried on an ven#ure "api#al $und% or "olle"#ive inve%#men#%"heme% opera#in& in #he %e"uri#ie% mar'e# immedia#el be$ore #he"ommen"emen# o$ #he Se"uri#ie% 2a % (!mendmen#) !"#, 1885, $or hi"h no"er#i$i"a#e o$ re&i%#ra#ion a% re uired prior #o %u"h "ommen"emen#, ma"on#inue #o opera#e #ill %u"h #ime re&ula#ion% are made under "lau%e (d) o$ %ub-%e"#ion (9) o$ %e"#ion :0 >

(9) Ever appli"a#ion $or re&i%#ra#ion %hall be in %u"h manner and on pa men#o$ %u"h $ee% a% ma be de#ermined b re&ula#ion%

(:) he Board ma , b order, %u%pend or "an"el a "er#i$i"a#e o$ re&i%#ra#ion in%u"h manner a% ma be de#ermined b re&ula#ion%*rovided #ha# no order under #hi% %ub-%e"#ion %hall be made unle%% #he per%on"on"erned ha% been &iven a rea%onable oppor#uni# o$ bein& heard

=CHA.#$R 4A .R)HI(I#I)N )* MANI. /A#I4$ AN% %$C$.#I4$ %$4IC$S, INSI%$R#RA%IN' AN% S (S#AN#IA/ AC9 ISI#)N )* S$C RI#I$S )R C)N#R)/


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.rohi3ition of manipulative and deceptive devices, insider trading andsu3stantial ac:uisition of securities or control! 19! @o per%on %hall dire"#l or indire"#l (a) u%e or emplo , in "onne"#ion i#h #he i%%ue, pur"ha%e or %ale o$ an%e"uri#ie% li%#ed or propo%ed #o be li%#ed on a re"o&niDed %#o"' ex"han&e, an

manipula#ive or de"ep#ive devi"e or "on#rivan"e in "on#raven#ion o$ #he provi%ion%o$ #hi% !"# or #he rule% or #he re&ula#ion% made #hereunder, #he Board %hall, in exer"i%e o$ i#% po er% or #he


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per$orman"e o$ i#% $un"#ion% under #hi% !"#, be bound b %u"h dire"#ion% onue%#ion% o$ poli" a% #he Cen#ral ?overnmen# ma &ive in ri#in& #o i# $rom #ime#o #ime.*rovided #ha# #he Board %hall, a% $ar a% pra"#i"able, be &iven an oppor#uni# #oexpre%% i#% vie % be$ore an dire"#ion i% &iven under #hi% %ub-%e"#ion

(9) he de"i%ion o$ #he Cen#ral ?overnmen# he#her a ue%#ion i% one o$ poli"or no# %hall be $inal

.ower of Central 'overnment to supersede the (oard! 1G (1) I$ a# an #ime #he Cen#ral ?overnmen# i% o$ opinion-(a) #ha# on a""oun# o$ &rave emer&en" , #he Board i% unable #o di%"har&e #he$un"#ion% and du#ie% impo%ed on i# b or under #he provi%ion% o$ #hi% !"#< or(b) #ha# #he Board ha% per%i%#en#l made de$aul# in "ompl in& i#h an dire"#ioni%%ued b #he Cen#ral ?overnmen# under #hi% !"# or in #he di%"har&e o$ #he$un"#ion% and du#ie% impo%ed on i# b or under #he provi%ion% o$ #hi% !"# and a% a

re%ul# o$ %u"h de$aul# #he $inan"ial po%i#ion o$ #he Board or #he admini%#ra#ion o$#he Board ha% de#eriora#ed< or(") #ha# "ir"um%#an"e% exi%# hi"h render i# ne"e%%ar in #he publi" in#ere%# %o #odo, #he Cen#ral ?overnmen# ma , b no#i$i"a#ion, %uper%ede #he Board $or %u"hperiod, no# ex"eedin& %ix mon#h%, a% ma be %pe"i$ied in #he no#i$i"a#ion (9) Opon #he publi"a#ion o$ a no#i$i"a#ion under %ub-%e"#ion (1) %uper%edin& #he

Board,-(a) all #he member% %hall, a% $rom #he da#e o$ %uper%e%%ion, va"a#e #heir o$$i"e%a% %u"h$1emption from ta1 on wealth and income!95 @o# i#h%#andin& an #hin& "on#ained in #he eal#h ax !"#, 185G(9G o$ 185G),

#he In"ome ax !"#, 18 1(4: o$ 18 1) or an o#her ena"#men# $or #he #ime bein&in $or"e rela#in& #o #ax on eal#h, in"ome, pro$i#% or &ain% -(a) #he Board

(9) @o "our# in$erior #o #ha# o$ =a Cour# o$ Se%%ion> %hall #r an o$$en"epuni%hable under #hi% !"#)ffences 35 companies! 9G (1) here an o$$en"e under #hi% !"# ha% been "ommi##ed b a "ompan ,ever per%on ho a# #he #ime #he o$$en"e a% "ommi##ed a% in "har&e o$, anda% re%pon%ible #o, #he "ompan $or #he "ondu"# o$ #he bu%ine%% o$ #he "ompan ,a% ell a% #he "ompan , %hall be deemed #o be &uil# o$ #he o$$en"e and %hall beliable #o be pro"eeded a&ain%# and puni%hed a""ordin&l .

*rovided #ha# no#hin& "on#ained in #hi% %ub-%e"#ion %hall render an %u"hper%on liable #o an puni%hmen# provided in #hi% !"#, i$ he prove% #ha# #he o$$en"ea% "ommi##ed i#hou# hi% 'no led&e or #ha# he had exer"i%ed all due dili&en"e

#o preven# #he "ommi%%ion o$ %u"h o$$en"e(9) @o# i#h%#andin& an #hin& "on#ained in %ub-%e"#ion (1), here an o$$en"eunder #hi% !"# ha% been "ommi##ed b a "ompan and i# i% proved #ha# #heo$$en"e ha% been "ommi##ed i#h #he "on%en# or "onnivan"e o$, or i% a##ribu#able#o an ne&le"# on #he par# o$, an dire"#or, mana&er, %e"re#ar or o#her o$$i"er o$#he "ompan , %u"h dire"#or, mana&er, %e"re#ar or o#her o$$i"er %hall al%o bedeemed #o be &uil# o$ #he o$$en"e and %hall be liable #o be pro"eeded a&ain%#and puni%hed a""ordin&l$#planation.%+or #he purpo%e% o$ #hi% %e"#ion, -(a) ;"ompan ; mean% an bod "orpora#e and in"lude% a $irm or o#hera%%o"ia#ion o$ individual%< and(b) ;dire"#or; in rela#ion #o a $irm, mean% a par#ner in #he $irm.ower to e1empt! 9 = mi##ed b #he Se"uri#ie% 2a % (!mendmen#) !"#,1885(8 o$ 1885), S 15( e $ 95-1-1885) >.ower to make rules! 98 (1) he Cen#ral ?overnmen# ma , b no#i$i"a#ion, ma'e rule% $or "arr in& ou##he purpo%e% o$ #hi% !"#


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(9) In par#i"ular, and i#hou# pre6udi"e #o #he &enerali# o$ #he $ore&oin& po er,%u"h rule% ma provide $or all or an o$ #he $ollo in& ma##er%, namel .-(a) #he #erm o$ o$$i"e and o#her "ondi#ion% o$ %ervi"e o$ #he Chairman and #hemember% under %ub-%e"#ion (1) o$ %e"#ion 5 (1) Save as rovi4e4 in s$b:se0tion (2)8 any erson a''rieve4 by any or4er ma4e by any*4 $4i0atin' Offi0er $n4er this *0t8 may refer an a ea to a Se0$rities * e ateTrib$na havin' $ris4i0tion in the matter.

(2) o a ea sha ie to the Se0$rities * e ate Trib$na from an or4er ma4e by an*4 $4i0atin' Offi0er =ith the 0onsent of the arties.S$bstit$te4 by the *0t 32 of 19998 S. 9 (=.e.f. 1+:12:1999)8 for ?a 0o y of the or4er ma4e

by the a4 $4i0atin' offi0er@S$bstit$te4 by the *0t 32 of 19998 S. 9(=.e.f. 1+:12:1999)8 for ? arties@S$bstit$te4 by the *0t 32 of 19998 S. 9(=.e.f. 1+:12:1999)8 for S. 15-. rior to theirs$bstit$tion8 S. 15- rea4 as $n4er>:?15-. The a e ant may either a ear in erson or a$thorise one or more e'a

ra0titioners or any of its offi0ers to resent his or its 0ase before the Se0$rities * e ateTrib$na .S$bstit$te4 by the S;& (*men4ment) *0t8 2 28 S.2+ (=.e.f. 29:1 :2 2)8 for S. 15M.

/rior to its s$bstit$tion8 it =as rea4 as $n4er> :15M. The /resi4in' Offi0er an4 other offi0ers an4 em oyees of a Se0$rities * e ateTrib$na sha be 4eeme4 to be $b i0 servants =ithin the meanin' of se0tion 21 of then4ian ena "o4e( !5 of 1 + ).S$bstit$te4 by the S;& (*men4ment)*0t8 2 28 S.27 (=.e.f. 29:1 :2 2)8 for S. 15I./rior to its s$bstit$tion 8 it =as rea4 as $n4er>:15I. * ea to ,i'h "o$rt.: *ny erson a''rieve4 by any 4e0ision or or4er of theSe0$rities * e ate Trib$na may fi e an a ea to the ,i'h "o$rt =ithin si


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2!. /ena ty.: Ehoever 0ontravenes or attem ts to 0ontravene or abets the 0ontraventionof the rovisions of this *0t or of any r$ es or re'$ ations ma4e there$n4er8 sha be

$nishab e =ith im risonment for a term =hi0h may e

List of Governors of The

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