The Securities and Exchange Board of India Act, 1992
The Securities and Exchange Board of India Act, 1992 is an important Indian law that provides for the establishment of the Securities and Exchange Board of India (SEBI) to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market.
Summary
The Securities and Exchange Board of India Act, 1992 is a key Indian law that provides for the establishment of the Securities and Exchange Board of India (SEBI) to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market. The Act sets out the powers and functions of SEBI, including its role in regulating the stock exchanges, registering and regulating intermediaries such as brokers and mutual funds, prohibiting fraudulent and unfair trade practices, and enforcing investor protection measures. The Act also provides for the establishment of a Securities Appellate Tribunal to hear appeals against SEBI's orders. The Act has been amended several times to keep pace with changing market conditions and to improve investor protection.
Table of Contents
| # | Section | Link |
|---|---|---|
| 1 | Section 1: Short Title, Extent And Commencement | Open |
| 2 | Section 2: Definitions | Open |
| 3 | Section 3: Establishment And Incorporation Of Board | Open |
| 4 | Section 4: Management Of The Board | Open |
| 5 | Section 5: Term Of Office And Conditions Of Service Of Chairman And Members Of The Board | Open |
| 6 | Section 6: Removal Of Member From Office | Open |
| 7 | Section 7: Meetings | Open |
| 8 | Section 7A: Member Not To Participate In Meetings In Certain Cases | Open |
| 9 | Section 8: Vacancies, Etc, Not To Invalidate Proceedings Of Board | Open |
| 10 | Section 9: Officers And Employees Of The Board | Open |
| 11 | Section 10: Transfer Of Assets, Liabilities, Etc, Of Existing Securities And Exchange Board To The Board | Open |
| 12 | Section 11: Functions Of Board | Open |
| 13 | Section 11A: Board To Regulate Or Prohibit Issue Of Prospectus, Offer Document Or Advertisement Soliciting Money For Issue Of Securities | Open |
| 14 | Section 11Aa: Collective Investment Scheme | Open |
| 15 | Section 11B: Power To Issue Directions And Levy Penalty | Open |