Section 4 of SCRA : Section 4: Grant Of Recognition To Stock Exchanges

SCRA

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Explanation using Example

Imagine that a new stock exchange, named "FuturExchange," is being set up in a major city. Before it can operate, it needs to be officially recognized by the Central Government. The founders of FuturExchange submit their application for recognition under Section 4 of The Securities Contracts (Regulation) Act, 1956.

The Central Government begins its inquiry and finds that FuturExchange has established rules and bye-laws that promote fair dealing and protect investors, as required by clause (a) of Section 4(1). These rules include strict measures against insider trading and mandatory disclosure of information by listed companies....

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