Section 15M(1) in The Securities and Exchange Board of India Act, 1992
(1)A person shall not be qualified for appointment as the Presiding Officer of the Securities Appellate Tribunal unless he-(a)is a sitting or retired Judge of the Supreme Court or a sitting or retired Chief Justice of a High Court; or(b)is a sitting or retired Judge of a High Court who has completed not less than seven years of service as a Judge in a High Court.
