Securities and Exchange Board of India (Terms and Conditions of Service of Chairman and Members) Amendment Rules, 2006. - 5/29/CM/2006-S.O. 732(E) - SEBI

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 18th May, 2006 S.O. 732(E).- In exercise of the powers conferred by Section 29 of the Securities and Exchange Board of India Act, 1992 (5 of 1992), the Central Government hereby makes the following rules further to amend the Securities and Exchange Board of India (Terms and Conditions of Service of Chairman and Members) Rules, 1992, namely :- 1. (i) These rules may be called the Securities and Exchange Board of India (Terms and Conditions of Service of Chairman and Members) Amendment Rules, 2006. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. In the Securities and Exchange Board of India (Terms and Conditions of Service of Chairman and Members) Rules, 1992, in rule 3, in sub-rule 2, for the proviso, the following proviso shall be substituted, namely: Provided that no person shall hold office as the Chairman or a Member after he attains the age of sixty-five years. [F. No. 5/29/CM/2006] DR. K. P. KRISHNAN. Jt. Secy. Note: The Principal notification was issued under S.O. 146(E), dated 21st February, 1992 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated 21st February, 1992 and was subsequently amended by the notification S.O. 153(E), dated 7th February, 1994 published in the Gazette of India, Part II, Section 3, Sub-section (ii) dated 7th February, 1994.