Which of the following statements about the Securities Appellate Tribunal is incorrect?
1
SAT is a statutory body established under the provisions of SEBI Act, 1992.
2
SAT hears and disposes of appeals against orders passed by the Securities and Exchange Board of India (SEBI).
3
SAT has the same powers as vested in a criminal court.
4
SAT hears and disposes of appeals against orders passed by the Pension Fund Regulatory and Development Authority (PFRDA).