Rajya Sabha Current Affairs - 2019
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Rajya Sabha cleared a Bill envisaging for broadening the criterion for appointment of Presiding Officer of the Securities Appellate Tribunal (SAT).
SAT is a statutory body that adjudicates on appeals against orders passed by SEBI.
The SEBI (Amendment) Bill, 2013, seeks to include the criterion of appointing a retired High Court judge having held the position for 7 years for heading the Tribunal.
The post of SAT chief has been vacant for over a year. The government has not been able to find a suitable judge who has dealt with commercial and capital market law. However, the SAT is not non-functional as the other 2 members of SAT are disposing of cases.
What are the existing criteria for the appointment of SAT chief?
- As per the existing criteria, only a serving or retired Supreme Court judge or Chief Justice of a High Court can head the Tribunal, but the Government is finding it difficult to fill the slot.
Month: Categories: Business, Economy & Banking
The government moved a motion in the Rajya Sabha which was adopted by voice vote – for the formation of a JPC (Joint Parliamentary Committee) to probe the chopper deal.
Objective: JPC to enquire into the allegations of payment of bribes in the acquisition of VVIP helicopters by the Ministry of Defence from M/s AgustaWestland and the role of alleged middlemen in the transaction.
- The JPC will have 10 members from the Rajya Sabha and 20 from the Lok Sabha.
- JPC shall give its report within 3 months of its first sitting.
Month: Categories: Governance & Politics