Companies Act Section 414 — Salary, allowances and other terms and conditions of service of Members

CHAPTER XXVII NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL

Commercial / Corporate

Summary

The salary, allowances, and other terms and conditions of service for Members of the Tribunal and the Appellate Tribunal will be as prescribed by the rules. This means the specific amounts and conditions are set out in regulations rather than in this section itself.

However, there is a safeguard: once a Member is appointed, their salary, allowances, and other terms and conditions of service cannot be changed to their disadvantage. In other words, the rules cannot be altered after appointment to reduce a Member's pay or make their service conditions worse.

Official Text

The salary, allowances and other terms and conditions of service of the Members of the Tribunal and the 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 Members shall be varied to their disadvantage after their appointment.