Salary and allowances and other terms and conditions of service of Presiding Officers.

15-O. The salary and allowances payable to and the other terms and conditions of service including pension, gratuity and other retirement benefits of the 103[Presiding Officer and other Members] of a Securities Appellate Tribunal shall be such as may be prescribed:

Provided that neither the salary and allowances nor the other terms and conditions of service of the ¹[Presiding Officer and other Members of a Securities Appellate Tribunal] shall be varied to their disadvantage after appointment.

1. Substituted for "Presiding Officer of a Securities Appellate Tribunal" by the SEBI (Amendment) Act 2002, w.e.f. 29-10-2002.