(1) The Presiding Officer of the Securities Appellate Tribunal shall be paid such salary as admissible to a serving Judge of Supreme Court or the Chief Justice of a High Court or Judge of a High Court, as the case may be.
(2) A Member of the Securities Appellate Tribunal shall be paid such salary as admissible to a Secretary to the Government of India :
Provided that if the Presiding Officer or a Member is in receipt of any retirement benefit by way of pension, gratuity, employer's contribution to Contributory Fund etc., the pay of such Presiding Officer/Member shall be reduced by the gross amount of pension or employer's contribution to the Contributory Provident Fund or any other form of retirement benefit, if any, drawn or to be drawn by him.
1. Substituted by the Securities Appellate Tribunal (Salaries, Allowance and other Terms and Conditions of the Presiding Officer and other Members) Amendment Rules, 2013, w.e.f.
12-6-2013. Prior to their substitution, rules 4 to 6 read as under :
"4. Salary—The Presiding Officer of Securities Appellate Tribunal shall be paid such salary as admissible to a serving Judge of Supreme Court or the Chief Justice of a High Court.
A Member of Securities Appellate Tribunal shall be paid such salary as admissible to a Secretary to the Government of India :
Provided that if the Presiding Officer or a Member is in receipt of any retirement benefit by way of pension, gratuity, employer's contribution to Contributory Provident Fund, etc., the pay of such Presiding Officer/Member shall be reduced by the gross amount of pension or employer's contribution to the Contributory Provident Fund or any other form of retirement benefit, if any, drawn or to be drawn by him.
5. Pension and Provident Fund—In case a serving Supreme Court Judge or Chief Justice of a High Court is holding the post of Presiding Officer, Securities Appellate Tribunal and an officer of Central Government or State Government or any other pensionable service is holding the post of Member, the service rendered by Supreme Court Judge or Chief Justice of a High Court or an Officer of the Central Government as the case may be in Securities Appellate Tribunal will count for pension to be drawn by him in accordance with the rules of the service to which he belongs. He shall also be governed by the provisions of the General Provident Fund (Central Services) Rules, 1960. In all other cases, a person shall be entitled to Contributory Provident Fund.
6. Travelling Allowance—The Presiding Officer, Securities Appellate Tribunal while on tour or on transfer (including the journey undertaken to join Securities Appellate Tribunal or on the expiry of his term with the Securities Appellate Tribunal to proceed to his home town) shall be entitled to travelling allowance, daily allowances, transportation of personal effects and other similar matters at the same scale and at the same rates as are applicable to Supreme Court Judge/Chief Justice of High Courts. The Members of Securities Appellate Tribunal, while on tour or on transfer (including the journey undertaken to join Securities Appellate Tribunal or on the expiry of his term with the Securities Appellate Tribunal to proceed to his home town) shall be entitled to travelling allowance, 'javascript:void(0);'
daily allowances, transportation of personal effects and other similar matters at the same scale and at the same rates as are applicable to Group 'A' Officers of the Central Government or State Government drawing an equivalent pay."
Pension and Provident Fund.