Regulation - 1, Securities Contracts (Regulation) (Appeal to Securities Appellate ... SECURITIES CONTRACTS (REGULATION)

2 · [2.] (1) In these rules, unless the context otherwise requires,—

3 · [(b) " appeal" means an appeal filed under section 21A or section 22A or section 23L of the SecuritiesContracts (Regulation) Act, 1956 or under sub-rule (5) of rule 19 or subrule (5) of rule 20 of the Securities Contracts (Regulation) Rules, 1957;]

4 · [(ea) "Member" means the member of the SecuritiesAppellate Tribunal appointed under section 15L of the Securities and Exchange Board of India Act, 1992 (15 of 1992);]

5 · [(h) "Registrar" means the Registrar of the AppellateTribunal and includes an officer of such AppellateTribunal who is authorised by the Presiding Officer to function as Registrar;]

3 · 6 [(1)] Where a recognised stock exchange acting in pursuance of any power given to it by its bye-laws, refuses to list the securities of any company, the company shall be entitled to be furnished with reasons for such refusal and may,—

6 · [(2) Every appeal shall be filed within a period of forty-five days from the date on which a copy of the order, against which the appeal is filed, of a recognised stock exchange withdrawing admission to dealings or suspending admission to dealings which continues for a period exceeding three months in any security/units or other instruments of a "collective instrument scheme", as defined under the Securities and Exchange Board of India Act, 1992 (15 of 1992), is received by the appellant :

4 · (1) A memorandum of appeal shall be presented in the Form by any aggrieved person in the registry of the Appellate Tribunal within whose jurisdiction his case falls or shall be sent by registered post addressed to the Registrar.

5 · 7 [(1)] The Appellate Tribunal shall hold its sitting either at a place where its office is situated or at such other place falling within its jurisdiction, as it may deem fit.

8 · [(2) In the temporary absence of the Presiding Officer, Government may authorise one of the two other members to preside over the sitting of the Tribunal either at a place where its office is situated or at such other place falling within its jurisdiction as it may deem fit by the AppellateTribunal.]

10 · [(5) An appeal against the order of the Registrar under sub-rule (4) shall be made within 15 days of receiving of such order to the Presiding Officer or in his temporary absence, to the Member authorized under sub -rule (2) of rule 5, whose decision thereon shall be final.]

11 · [(1) Every memorandum of appeal shall be accompanied with a fee as provided in subrule (2) and such fee may be remitted in the form of crossed demand draft drawn on any nationalized bank in favour of "the Registrar, Securities Appellate Tribunal" payable at the station where the registry is located.

10 · (1) Every memorandum of appeal filed under rule 4 shall set forth concisely under distinct heads, the grounds of such appeal without any argument or narrative, and such ground shall be numbered consecutively and shall be in the manner provided in sub-rule (1) of rule 7.

11 · 12 [(1) Every memorandum of appeal shall be in five copies and shall be accompanied with copies of the order, at least one of which shall be a certified copy, against which the appeal is filed.]

12 · A memorandum of appeal shall not seek relief or reliefs therein against more than one order unless the reliefs prayed for are consequential.

13 · A copy of the memorandum of appeal and paper book shall be served by the Registrar on the respondent as soon as they are registered in the registry, by hand delivery, or by Registered Post or Speed Post.

15 · The Appellate Tribunal shall notify the parties of the date of hearing of the appeal in such manner as the Presiding Officer may by general or special order direct.

16 · (1) On the day fixed or on any other day to which the hearing may be adjourned, the appellant shall be heard in support of the appeal. The Securities Appellate Tribunalshall, then, if necessary, hear the Board or its authorised representative against the appeal, and in such case the appellant shall be entitled to reply. During the course of the hearing of appeal the written arguments could be supplemented by time-bound oral arguments :

14 · [Provided that in case of temporary absence of the Presiding Officer or of the Member authorised by the Government under sub-rule (2) of rule 5, the Presiding Officer can authorise the other Member present on that day to hear the Board or authorised representative against the appeal.]

17 · (1) The dress for the Presiding Officer shall be white or striped or black pant with black coat over white shirt and band or buttoned up black coat and band. The dress for the two other Members shall be white or striped or black pant with black coat over white shirt and black tie or buttoned up black coat. In the case of a female Presiding Officer or a Member, the dress shall be black coat over a white saree.

17 · [(1) The Registrar shall discharge his functions under the general superintendence of the Presiding Officer or in the temporary absence of the Presiding Officer, the Member authorized under sub -rule (2) of rule 5. He shall discharge such other functions as are assigned to him under these rules by the Presiding Officer or in the temporary absence of the Presiding Officer, by the Member authorized under sub -rule (2) of rule 5, by a separate order in writing.]

18 · [(4) Subject to any general or special direction by the Presiding Officer, or in the temporary absence of the Presiding Officer, the Member authorized under sub-rule (2) of rule 5, the official seal of the Appellate Tribunal shall not be affixed to any order, summons or other process save under the authority in writing from the Registrar.]

3 · [Additional functions and duties of Registrar

26 · . In addition to the functions and duties assigned in the rules, the Registrar shall have the following functions and duties subject to any general or special order of the Presiding Officer or in his temporary absence, the Member authorized under sub-rule (2) of rule 5, namely:—

27 · The official seal and emblem of the Appellate Tribunalshall be such as the Central Government may specify.