Section 321 Investments and Securities Act

Section 321 of the Investments and Securities Act 2025 is about Resignation and removal. It is under Part XVII (Establishment, Jurisdiction, Authority and Procedure of The Investments and Securities Tribunal) of the Act. It provides as follows:

(1) A member of the Tribunal may, by notice in writing under his hand addressed to the President through the Minister resign his office:

Provided that the member shall, unless he is permitted by the President to relinquish his office continue to hold office until the expiry of three months from the date of receipt of such notice or until a person duly appointed as his successor assumes his office or until the expiry of his term of office, whichever is earlier.

(2) A member of the Tribunal may be removed from office by an order made by the President on the recommendation of the Minister based on —
(a) any of the grounds referred to in section 320 of this Act and after he has been given an opportunity of being heard in respect of the charge; or

(b) the ground of proven charge of misbehaviour or incapacity after due inquiry has been made and the member concerned has been informed of the charge against him and given an opportunity of being heard in respect of the charge.