Categories: Business

SEBI amend rules for filling of executive director posts

Photo: PTI (FILE)

SEBI amend rules for filling of executive director posts

new Delhi. The market regulator Sebi has amended the rules regarding the filling of executive director positions and the selection committee members. Apart from this, the Securities and Exchange Board of India has also said that employees who have served 7 years in the posts of Junior Accounts Assistant and Junior Engineer can be considered for the post of 'Grade A' officer in the Regulator. With reference to the post of Executive Director (other than law), SEBI said that two-thirds of the total posts can be filled from internal candidates and the remaining one-third on deputation or contract basis. In a notification issued on August 5, the regulator said that if there is no availability in any category, internal and deputation or contract, the posts can be filled from other category. Till now, 50 percent of the total number of executive director positions could be filled from internal candidates and the remaining 50 percent through deputation / contract and / or direct appointment.

According to the regulator, the chairman for the posts of executive director, two members of the board nominated by him and two external experts will join the selection committee. SEBI had invited applications for the appointment of two executive directors in June. Sebi currently has eight executive directors. The regulator also said, "Grade A" for vacancies to junior assistant, junior account assistant, junior library assistant or junior engineer, who have completed seven years of service and have the necessary qualifications for 'Grade A' officer. One can be considered for taking in an officer. ”For this, SEBI has amended the Employee Services Regulation.

This post was published on August 11, 2020 12:01 am

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