The Depositories (Appeal To Securities Appelate Tribunal) Rules, 2000

The Gazette of India


Part II - Section 3- Sub-Section (i)


MINISTRY OF FINANCE (Department of Economic Affairs)


New Delhi, the 18th February, 2000


G.S.R. No143(E).- In exercise of the powers conferred by section 24 read with section 23 A, of the Depositories Act, 1996 (22 of 1996), the Central Government hereby makes the following rules, namely:-

  1. Short title and commencement.-
    1. These rules may be called the Depositories (Appeal to Securities Appellate Tribunal) Rules, 2000.
    2. They shall come into force on the date of their publication in the Official Gazette.
  2. Definitions.-
    1. In these rules, unless the context otherwise requires,-
    1. "Act" means the Depositories Act, 1996 (22 of 1996);
    2. "appeal" means an appeal preferred under section 23A of the Act;
    3. "Appellate Tribunal" means the Securities Appellate Tribunal established under section 15K of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
    4. "form" means the form appended to these rules;
    5. "party" means a person who prefers an appeal before the Appellate Tribunal and includes respondent;
    6. "Presiding Officer" means the Presiding Officer of the Securities Appellate Tribunal appointed under section 15L of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
    7. "rules" means the rules made under the Act;(h) "Registrar" means the Registrar of the Appellate Tribunal;
    8. "registry" means the registry of the Appellate Tribunal;
      1. words and expressions used and not defined in these rules but defined in the Depositories Act, 1996 shall have the meanings respectively assigned to them in that Act.

  3. Limitation for filing an appeal.- An appeal may be preferred by the aggrieved person within a period of forty five days from the date on which a copy of the order, made by the Board under the Act or the regulations made thereunder, is received by the person.

    Provided that the Securities Appellate Tribunal may entertain an appeal after the expiry of the said period of forty-five days if it is satisfied that there was sufficient cause for not filing it within that period.