Section 15X of The Securities and Exchange Board of India Act, 1992
The Presiding Officer, Members and other officers and employees of a Securities Appellate Tribunal shall be deemed to be public servants within the meaning of section 21 of the Indian Penal Code (45 of 1860).]
↩1.Ins. by Act 7 of 2017, s.148 (w.e.f. 26-5-2017).
↩2.Subs. by Act 32 of 1999, s. 10, for section 15V (w.e.f. 16-12-1999).
↩3.Subs. by Act 59 of 2002, s. 26, for section 15X (w.e.f. 29-10-2002).
Summary
- The Presiding Officer of the Securities Appellate Tribunal is legally classified as a public servant.
- All Members of the Securities Appellate Tribunal are also legally classified as public servants.
- Any other officers and employees working for the Tribunal share this legal status as public servants.
- This public servant status is strictly defined by cross-referencing section 21 of the Indian Penal Code.
Practical examples
FAQ
1. Are the judges at the Tribunal considered private arbitrators or public servants?
The Presiding Officer and the Members are legally deemed to be public servants.
2. Does the "public servant" label apply only to the top judges?
No, the law states that all other officers and employees of the Tribunal are also deemed to be public servants.
3. What specific law defines what it means to be a "public servant" in this context?
The status is defined within the meaning of section 21 of the Indian Penal Code.
Test yourself
Q1.Under Section 15X of The Securities and Exchange Board of India Act, 1992, which outside law is cross-referenced to give legal meaning to the term "public servants"?
Q2.Under Section 15X of The Securities and Exchange Board of India Act, 1992, which of the following groups is NOT explicitly named in this provision as being deemed a public servant?
Q3.Under Section 15X of The Securities and Exchange Board of India Act, 1992, what is the core purpose of this provision?
Q4.Under Section 15X of The Securities and Exchange Board of India Act, 1992, do the everyday administrative employees of the Tribunal hold the same "public servant" status as the Presiding Officer?