Section 15T - Appeal to the Securities Appellate Tribunal

Appeal to Securities Appellate Tribunal clarifies who may appeal, filing timeframe, tribunal powers, and duty to dispose expeditiously.

Section 15T permits appeals to the Securities Appellate Tribunal against orders under the Act, orders of adjudicating officers, and orders of specified regulators; appeals must be filed within a prescribed period from receipt of the order, subject to the Tribunal admitting late filings for sufficient cause. After giving parties an opportunity to be heard, the Tribunal may confirm, modify or set aside the order, must send copies of its orders to relevant regulators, adjudicating officers and parties, and should dispose of appeals expeditiously.