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Section 2(c)(viii) read with Section 2(b) of the Prevention of...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed preliminarily
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Section 2(c)(viii) read with Section 2(b) of the Prevention of Corruption Act, 1988 is described as constitutionally valid because it contains ascertainable requirements: a person must hold an office and, by virtue of it, be authorised or required to perform a public duty. The statutory concept of public servant is to be construed purposively and broadly to address corruption beyond government departments. A recognised stock exchange operates within a statutory framework serving investor protection and public interest, and its Managing Director and CEO may therefore fall within the definition. Whether the individual performed relevant public functions remains a mixed question of fact and law. A sanction caveat leaving the legal issue open did not invalidate the sanction, and quashing was considered inappropriate before trial.
Section 2(c)(viii) read with Section 2(b) of the Prevention of Corruption Act, 1988 is described as constitutionally valid because it contains ascertainable requirements: a person must hold an office and, by virtue of it, be authorised or required to perform a public duty. The statutory concept of public servant is to be construed purposively and broadly to address corruption beyond government departments. A recognised stock exchange operates within a statutory framework serving investor protection and public interest, and its Managing Director and CEO may therefore fall within the definition. Whether the individual performed relevant public functions remains a mixed question of fact and law. A sanction caveat leaving the legal issue open did not invalidate the sanction, and quashing was considered inappropriate before trial.
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