The Ministry of Finance, in a Notification issued today increased the retirement age of the Presiding Officers of Securities Appellate Tribunal (SAT) to 70 years.
As per section 184(1) of the Finance Act, 2017, the age of the Chairperson, Chairman or President shall not exceed seventy years and the age of the Vice- Chairperson, Vice- Chairman, Vice- President, Presiding Officer or any other Member shall not exceed sixty- seven years under section.
The present notification stated that “a difficulty has arisen in giving effect to the aforesaid provisions of the said Act as a Judge of the Supreme Court or the Chief Justice of a High Court or a Judge of a High Court, after appointment as the Presiding Officer of Securities Appellate Tribunal may not be retired at the age of Sixty-five and his age of retirement be increase to the Seventy years as in case of the Chairperson or Chairman or President of Tribunal, Appellate Tribunal, or as the case may be, Authority.”
Read the full text of the Notification below.
