Section 15P of SEBI Act covers how vacancies in Securities Appellate Tribunal are filled by the Central Government.
Section 15P of the Securities and Exchange Board of India Act, 1992, addresses the procedure for filling vacancies in the Securities Appellate Tribunal. If a vacancy arises in the office of the Presiding Officer or any other member, excluding temporary absences, the Central Government is responsible for appointing a replacement as per the Act's provisions. The Tribunal's proceedings can continue from the point at which the vacancy is filled. This section was amended in 2002 to include members other than the Presiding Officer.
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