Section 411 Qualifications of chairperson and Members of Appellate Tribunal
- Amendments
- 1
- Last changed
- 9 February 2018
411. Qualifications of chairperson and Members of Appellate Tribunal.—
(1) The chairperson shall be a person who is or has been a Judge of the Supreme Court or the Chief Justice of a High Court.
(2) A Judicial MemberDefined in section 2(55): member, in relation to a company, means the subscriber to the memorandum entered in the register of members, every other person who agrees in writing to become a member and is entered in the register of members, and every person holding shares whose name is entered as a beneficial owner in depository records. shall be a person who is or has been a Judge of a High Court or is a Judicial MemberDefined in section 2(55): member, in relation to a company, means the subscriber to the memorandum entered in the register of members, every other person who agrees in writing to become a member and is entered in the register of members, and every person holding shares whose name is entered as a beneficial owner in depository records. of the Tribunal for five years.
Substituted by Companies (Amendment) Act, 2017, s. 84, with effect from 9 February 2018. Earlier read: "sub-section (3)"(3) A technical memberDefined in section 2(55): member, in relation to a company, means the subscriber to the memorandum entered in the register of members, every other person who agrees in writing to become a member and is entered in the register of members, and every person holding shares whose name is entered as a beneficial owner in depository records. shall be a person of proven ability, integrity and standing having special knowledge and professional experience of not less than twenty-five years in industrial finance, industrial management, industrial reconstruction, investment and accountancy.