The Bill replaces the Securities Laws (Amendment) Ordinance 2013, promulgated in July this year.
Replying to a debate on the bill, Finance Minister P. Chidambaram said the main change in the law was related to appointment of the Securities Appellate Tribunal head.
Under the proposed law, a retired and sitting High Court judges can also be appointed as head of the Tribunal.
As per old regulation, only a serving or retired Supreme Court judge or Chief Justice of a High Court could head the tribunal.
--IANS (Posted on 27-08-2013)