Chapter II — ESTABLISHMENT OF THE SECURITIES AND EXCHANGE BOARD OF INDIA

Section 6Removal of member from office

Section 6: Removal of member from office

6. Removal of member from office

*** The Central Government shall remove a member from office if he

(a)

is, or at any time has been, adjudicated as insolvent;

(b)

is of unsound mind and stands so declared by a competent court;

(c)

has been convicted of an offence which, in the opinion of the Central Government, involves a moral turpitude;

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(e)

has, in the opinion of the Central Government, so abused his position as to render his continuation in office detrimental to the public interest:

Provided that no member shall be removed under this clause unless he has been given a reasonable opportunity of being heard in the matter.

Amendment notes (2)
  1. omitted w.e.f. 25-1-1995 . The brackets and figure "(1)" omitted by Act 9 of 1995, s. 3 (w.e.f. 25-1-1995).
  2. omitted w.e.f. 25-1-1995 . Clause (d) omitted by Act 9 of 1995, s. 3 (w.e.f. 25-1-1995).