Your World of Legal Intelligence
 India | 1-800-335-6202

Finance (Removal of Difficulties) Order, 2017

Document Cited in Related
Vincent

S.O. 1702(E).-- Whereas, the Finance Act, 2017 (7 of 2017) (hereinafter referred to as the said Act) received the assent of the President on 31st March, 2017;

And whereas, second proviso to sub-section (1) of section 184 of the said Act provides that the age of the Chairperson, Chairman or President shall not exceed seventy years and the age of the Vice- Chairperson, Vice- Chairman, Vice- President, Presiding Officer or any other Member shall not exceed sixty- seven years;

And whereas, such provision of the said Act had come into force on the 26th day of May, 2017;

And whereas, no person is qualified to be appointed as the Presiding Officer-

(a) of the Securities Appellate Tribunal established under the Securities Exchange Board of India Act, 1992 (15 of 1992), unless he is, or has been, a judge of Supreme Court or Chief Justice of High Court or a Judge of High Court for at least seven years;

(b) of the Industrial Tribunal constituted by the Central Government under the Industrial Dispute Act, 1947 (14 of 1947) unless he is, has been, or is qualified to be, a Judge of High Court; and

(c) of the Debts Recovery Tribunal established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993) unless he is a Judge of District Court;

And whereas, a difficulty has arisen in giving effect to the aforesaid provisions of the said Act as a Judge of the Supreme Court or the Chief Justice of a High Court or a Judge of a High Court, after appointment as the Presiding Officer of Securities Appellate Tribunal may not be retired at the age of Sixty-five and his age of retirement be increase to the Seventy years as in case of the Chairperson or Chairman or President of Tribunal, Appellate Tribunal, or as the case may be, Authority;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT