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Section15M
The Securities and Exchange Board of India Act, 1992

Qualification for appointment as Presiding Officer or Member of Securities Appellate Tribunal

In force From 30 Jan 1992 Act 15 of 1992 As on 18 Oct 2026

Act 15 of 1992 Ministry Finance Enacted 04 Apr 1992 In force 30 Jan 1992 Instruments 2

Section 15M of the Securities and Exchange Board of India Act, 1992 deals with qualification for appointment as Presiding Officer or Member of Securities Appellate Tribunal. A person shall not be qualified for appointment as the Presiding Officer or a Judicial Member or a Technical Member of the Securities Appellate Tribunal, unless he (a) is, or has been, a Judge of the Supreme Court or a Chief Justice of a High Court or a Judge of High Court for at least seven years, The Act came into force on 30 Jan 1992.

1[15M. Qualification for appointment as Presiding Officer, Judicial Member and Technical Member.-- A person shall not be qualified for appointment as the Presiding Officer or a Judicial Member or a Technical Member of the Securities Appellate Tribunal, unless he

(a) is, or has been, a Judge of the Supreme Court or a Chief Justice of a High Court or a Judge of High Court for at least seven years, in the case of the Presiding Officer; and

(b) is, or has been, a Judge of High Court for at least five years, in the case of a Judicial Member; or

(c) in the case of a Technical Member

(i) is, or has been, a Secretary or an Additional Secretary in the Ministry or Department of the Central Government or any equivalent post in the Central Government or a State Government; or

(ii) is a person of proven ability, integrity and standing having special knowledge and professional experience, of not less than fifteen years, in financial sector including securities market or pension funds or commodity derivatives or insurance.]

Section 15M, The Securities and Exchange Board of India Act, 1992 (Act 15 of 1992).

Made under this section, and citing it

2 instruments state that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.

All subordinate legislation

Questions about Section 15M

What does Section 15M of the Securities and Exchange Board of India Act deal with?

Section 15M of the Securities and Exchange Board of India Act is headed "Qualification for appointment as Presiding Officer or Member of Securities Appellate Tribunal". [15M. Qualification for appointment as Presiding Officer, Judicial Member and Technical Member.-- A person shall not be qualified for appointment as the Presiding Officer or a Judicial Member or a Technical Member of the Securities Appellate Tribunal, unless he (a) is, or has been, a Judge of the Su

How do I find court cases under Section 15M of the Securities and Exchange Board of India Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Sebi Act 15M, section 15M Sebi Act, section 15M of the Securities and Exchange Board of India Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 15M of the Securities and Exchange Board of India Act, and has it changed?

The rules and notifications made under it are where it actually bites, and there are 2: most recently Securities Appellate Tribunal (Salaries, Allowances and other Terms and Conditions of Presiding Officer and other Members) Rules, 2003 (2003), then the Securities Appellate Tribunal (Salaries, Allowances and other Terms and Conditions of Presiding Officer and other Members) Rules, 2003. (2003).

When did Section 15M of the Securities and Exchange Board of India Act come into force?

Section 15M of the Securities and Exchange Board of India Act, cited as Sebi Act 15M, came into force on 30 Jan 1992, having been enacted on 04 Apr 1992. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 18 Oct 2026. This page is not a substitute for legal advice.