(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.
18 Substituted by SEBI (Employees' Service) Regulations, 2010, w.r.e.f. 30-1-2008. Prior to its substitutions sub-regulations (1) read as under :
"(1) An employee confirmed in the services of the Board shall ordinarily rank for seniority in his grade according to his date of confirmation in the grade and an employee on probation shall ordinarily rank for seniority among the employees selected along with him in the same batch according to the ranking assigned to him at the time of selection."
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 19 [corresponding grade in the] 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.
(2) All promotions shall be against vacancies in sanctioned posts declared by the competent authority 20 [except promotions up to Officer Grade C] and shall be based on—
(a) Seniority, merit and suitability in the cases of Officers and Secretarial Staff, Accounts Assistants 21 [, Library Assistants, Junior Secretarial Assistants, Junior Accounts Assistants, Junior Library Assistants and Junior Engineers];
(b) Seniority and merit in the cases of 22 [***] Messenger, Cook, Driver, Messenger-cum-Driver, Messenger-cum-General Assistant.
Provided that in assessing the suitability of the employee for promotion, the performance of the employee in the post or grade, from where he is being considered for promotion, shall be considered.
(3) For the purpose of promotions, Chairman shall constitute a Departmental Promotion Committee comprising such number of persons including external expert which may conduct interviews, if so decided, for selection of employees for considering promotion to the next grade or post.
Provided that in the case of promotions to the post of Executive Director, the Committee shall consist of Chairman and two other members of the Board.
Reversion
17. An employee promoted from one grade to another shall be liable to be reverted without notice at any time within one year of such promotion.
CHAPTER IV PAY, ALLOWANCES AND OTHER BENEFITS Pay and allowances