Securities And Exchange Board Of India - Subsection
Section 16(1) in Securities and Exchange Board of India (Employees' Service) Regulations, 2001
(1)All promotions shall be made at the discretion of the Board and notwithstanding his seniority in a grade no employee shall have a right to be promoted to any particular post or grade.Provided that an employee, who has put in a minimum of 3 years of service in any post or grade, when promotion opportunities arise, shall be eligible for consideration of promotion to a higher post.Provided further that an employee in any grade in the cadre of secretarial staff, accounts assistants and library assistants who possess requisite qualifications may be considered for switch over to the [corresponding grade in the] [Inserted by SEBI (Employees' Service) (Second Amendment) Regulations, 2012, w.r.e.f. 19-11- 2012.] Officer cadre against such vacancies, which shall be 10% of total vacancies arising in a calendar year, as may be notified by the Competent Authority, subject to such employees qualifying in a departmental test conducted by the Competent Authority or by an outside agency engaged by the Board and interview to be conducted by the Competent Authority for this purpose.
