Amendment in the Securities Appellate Tribunal (Salaries, Allowance and other Terms and Conditions of Presiding Officer and Other Members) Rules, 2003 in rule 4, 5, 6. - G.S.R. 369(E) - SEBI

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 12th June, 2013 G.S.R. 369(E).- In exercise of the powers conferred by section 15L read with section 15M and clause (f) of sub-section (2) of section 29 of the Securities and Exchange Board of India Act, 1992 , the Central Government hereby makes the following rules to amend the Securities Appellate Tribunal (Salaries, Allowance and other Terms and Conditions of Presiding Officer and Other Members) Rules, 2003 , namely :- 1. (1) These rules may be called the Securities Appellate Tribunal (Salaries, Allowance and other Terms and Conditions of the Presiding Officer and Other Members) Amendment Rules, 2013. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Securities Appellate Tribunal (Salaries, Allowance and other Terms and Conditions of Presiding Officer and Other Members) Rules, 2003 (hereinafter referred to as the said rules), - (i) for rule 4 , the following rule shall be substituted, namely :- 4. Salary. (1) The Presiding Officer of the Securities Appellate Tribunal shall be paid such salary as admissible to a serving Judge of Supreme Court or the Chief Justice of a High Court or Judge of a High Court, as the case may be. (2) A Member of the Securities Appellate Tribunal shall be paid such salary as admissible to a Secretary to the Government of India : Provided that if the Presiding Officer or a Member is in receipt of any retirement benefit by way of pension, gratuity, employer s contribution to Contributory Fund etc., the pay of such Presiding Officer/Member shall be reduced by the gross amount of pension or employer s contribution to the Contributory Provident Fund or any other form of retirement benefit, if any, drawn or to be drawn by him. ; (ii) in the said rules, for rule 5 , the following rule shall be substituted, namely :- 5. Pension and Provident Fund. (1) In case of a serving Supreme Court Judge or Chief Justice of a High Court or Judge of a High Court is holding the post of Presiding Officer, Securities Appellate Tribunal and an Officer of the Central or State Government or any other pensionable service is holding the post of Member, the service rendered by Supreme Court Judge or Chief Justice of a High Court or Judge of a High Court or an Officer of the Central or State Government, as the case may be, in the Securities Appellate Tribunal shall be counted for pension to be drawn by him in accordance with the rules of the service to which he belongs. (2) The Presiding Officer and Members of the Securities Appellate Tribunal shall be governed by the provisions of the General Provident Fund (Central Services) Rules, 1960 and in all other cases, a person shall be entitled to Contributory Provident Fund. ; (iii) in the said rules, for rule 6 , the following rule shall be substituted, namely:- 6. Travelling Allowance. ( 1) The Presiding Officer, Securities Appellate Tribunal while on tour or on transfer (including the journey undertaken to join the Securities Appellate Tribunal or on the expiry of his term with the Securities Appellate Tribunal to proceed to his home town) shall be entitled to travelling allowance, daily allowances, transportation of personal effects and other similar matters at the same scale and at the same rates as are applicable to Supreme Court Judge or Chief Justice of a High Court or Judge of a High Court, as the case may be. (2) The Members, Securities Appellate Tribunal while on tour or on transfer (including the journey undertaken to join the Securities Appellate Tribunal or on the expiry of his term with the Securities Appellate Tribunal to proceed to his home town) shall be entitled to travelling allowance, daily allowances, transportation of personal effects and other similar matters at the same scale and at the same rates as are applicable to Group 'A' officers of the Central or State Government drawing an equivalent pay. . [F. No. 3/7/2013-RE] ANUP WADHAWAN, Jt. Secy. Note : - The principal notification was published in the Gazette of India, Extraordinary Part II, Section 3, Sub-section (i) vide number G.S.R. 178 (E), dated the 9th March, 2004.