Section 9 of The Securities and Exchange Board of India Act, 1992
- (1)The Board may appoint such other officers and employees as it considers necessary for the efficient discharge of its functions under this Act.
- (2)The term and other conditions of service of officers and employees of the Board appointed under sub-section (1) shall be such as may be determined by regulations. 1. The brackets and figure “(1)” omitted by Act 9 of 1995, s. 3 (w.e.f. 25-1-1995). 2. Cl. (d) omitted by Act 9 of 1995, s. 3 (w.e.f. 25-1-1995).
↩3.Ins. by s. 4, ibid. (w.e.f. 25-1-1995).
Summary
- The Board has the power to appoint its own officers and employees.
- The purpose of hiring these employees is to ensure the Board can carry out its functions efficiently.
- The length of employment and other conditions of service for these workers are determined by regulations.
Practical examples
FAQ
1. Who decides to hire staff for the Board?
The Board itself may appoint such officers and employees as it considers necessary.
2. Why does the Board hire these employees?
They are hired for the efficient discharge of the Board's functions under the Act.
3. Where can an employee find their terms of service?
The term and other conditions of service are determined by regulations.
Test yourself
Q1.Under Section 9 of The Securities and Exchange Board of India Act, 1992, who has the authority to appoint officers and employees?
Q2.Under Section 9 of The Securities and Exchange Board of India Act, 1992, how are the term and other conditions of service of the officers and employees determined?
Q3.Under Section 9 of The Securities and Exchange Board of India Act, 1992, what is the stated purpose for the Board to appoint officers and employees?
Q4.Under Section 9 of The Securities and Exchange Board of India Act, 1992, does the Board need to ask the Central Government before setting the service conditions for its regular employees?