Rule 1, SEBI (TERMS AND CONDITIONS OF SERVICE OF CHAIRMAN AND MEMBERS) RULES; 1992 SECURITIES AND EXCHANGE BOARD OF INDIA TERMS AND CONDITIO

rules · 1992 · State unknown

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Parent: THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 (7c4c1f5343adab106c3a94cafc08a5ecf5957ae7)

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Rule 1, SEBI (TERMS AND CONDITIONS OF SERVICE OF CHAIRMAN AND MEMBERS) RULES; 1992 SECURITIES AND EXCHANGE BOARD OF INDIA TERMS AND CONDITIONS OF SERVICE OF CHAIRMAN AND MEMBERS _ RULES, 1992 In exercise of the powers conferred by section 29 of the Securities and Exchange Board of India Ordinance, 1992 (15 of 1992), the Central Government hereby makes the following rules; namely Short title and commencement 1. (1) These rules may be called the Securities and Exchange Board of India Terms and Conditions of Service of Chairman and Members, Rules, 1992. (2) They shall come into force on the date of publication of this Notification: Definitions 2. In these rules, unless the context otherwise required "Ordinance' means the Securities and Exchange Board of India Ordinance, 1992 (15 of 1992). "Board' means the Securities and Exchange Board of India, established under section 3 of the Ordinance. Chairman means the Chairman of the Board. Member" means a Member of the Board. Terms and Conditions of Service of Chairman and Members 3. (1) The Chairman or the whole-time Member shall be a person who does not, and will not, have any such financial or other interests as are likely to affect prejudicially his functions as such Chairman or Member. (2) The Chairman and every whole-time Member shall hold office for such period, not exceeding 5 years, as may be specified in the order of his appointment; but he shall be eligible for reappointment: Provided that no person shall hold office as the Chairman or a Member after he attains the age of sixty-five years (3) The Chairman or a whole-time member appointed to fill up a causal vacancy shall hold office for the reminder period of the term of the Chairman O,as the case may be, memberin whose place he is appointed (4) The Chairman or whole ti

Rule TOC

5 · The Chairman and a whole-time Member who has opted pay as admissible to a Secretary and Additional Secretary to the Government of India respectively shall receive Dearness Allowance and City Compensatory Allowance at the rates admissible to a Group 'A Officer of the Central Government

10 · Travelling Allowance The Chairman while on tour or on transfer (including the journey undertaken to join the Board or on the expiry of his term with the Board proceeds to his home town) shall be entitled to the travelling allowances, daily allowances, transportation of personal effects and other similar matters at the same scale and at the same rate aS are prescribed for a Secretary to the Government of India: ii) A whole-time Member while on tour Or on transfer (including the journey undertaken to join the Board or on the expiry of his term with the Board proceeds to his home town) shall be entitled to the travelling allowances, daily allowances, transportation of personal effects and other similar matters at the same scale and at the same rates as are prescribed for Group 'A' officer of equivalent rank of the Central Government:

250 · p.m 400 p.m:

375 · p.m Air-conditioned car 600 p.m Provided that such non-duty journeys shall not exceed 1000 kms. in the cities of Delhi, Bangalore, Bombay, Calcutta, Madras and Hyderabad and 750 kms. in all other cities in a month; journeys from residence to office being treated as duty runs_ (3) Nothing in this rule shall apply to the Chairman and a whole-time Member who has opted a consolidated salary of Rs. 3,00,000 per month and Rs. 2,50,000 per month respectively.