LawgistAll Acts
Securities and Exchange Board of India Act
An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto.
| Act Id | 199215 |
| Act Number | 15 |
| Enactment Date | 1992-04-04 |
| Act Year | 1992 |
| Ministry | Ministry of Finance |
| Enforcement Date | 30-01-1992 |
- PRELIMINARY
- ESTABLISHMENT OF THE SECURITIES AND EXCHANGE BOARD OF INDIA
- 3 Establishment and incorporation of Board
- 4 Management of the Board
- 5 Term of office and conditions of service of Chairman and members of the Board
- 6 Removal of member from office
- 7 Meetings
- 7A Member not to participate in meetings in certain cases
- 8 Vacancies, etc., not to invalidate proceedings of Board
- 9 Officers and employees of the Board
- TRANSFER OF ASSETS, LIABILITIES, ETC., OF THE EXISTING SECURITIES AND EXCHANGE BOARD TO THE BOARD
- POWERS AND FUNCTIONS OF THE BOARD
- REGISTRATION CERTIFICATE
- PROHIBITION OF MANIPULATIVE AND DECEPTIVE DEVICES, INSIDER TRADING AND SUBSTANTIAL ACQUISITION OF SECURITIES OR CONTROL
- FINANCE, ACCOUNTS AND AUDIT
- PENALTIES AND ADJUDICATION
- 15A Penalty for failure to furnish information, return, etc
- 15B Penalty for failure by any person to enter into agreement with clients
- 15C Penalty for failure to redress investors‟ grievances
- 15D Penalty for certain defaults in case of mutual funds
- 15E Penalty for failure to observe rules and regulations by an asset management company
- 15EA Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts
- 15EB Penalty for default in case of investment adviser and research analyst
- 15F Penalty for default in case of stock brokers
- 15G Penalty for insider trading
- 15H Penalty for non-disclosure of acquisition of shares and takeovers
- 15HA Penalty for fraudulent and unfair trade practices
- 15HAA Penalty for alteration, destruction, etc., of records and failure to protect the electronic database of Board
- 15HB Penalty for contravention where no separate penalty has been provided
- 15-I Power to adjudicate
- 15J Factors to be taken into account while adjudging quantum of penalty
- 15JA Crediting sums realised by way of penalties to Consolidated Fund of India
- 15JB Settlement of administrative and civil proceedings
- ESTABLISHMENT, JURISDICTION, AUTHORITY AND PROCEDURE OF APPELLATE TRIBUNAL
- 15K Establishment of Securities Appellate Tribunals
- 15L Composition of Securities Appellate Tribunal
- 15M Qualification for appointment as Presiding Officer or Member of Securities Appellate Tribunal
- 15MA Amendment of Presiding Officer and Judicial Member
- 15MB Search-cum-Selection Committee for appointment of Technical Members
- 15MC Vacancy not to invalidate selection proceeding
- 15N Tenure of office of Presiding Officer and other Members of Securities Appellate Tribunal
- 15O Salary and allowances and other terms and conditions of service of Presiding Officers
- 15P Filling up of vacancies
- 15PA Member to act as Presiding Officer in certain circumstance
- 15Q Resignation and removal
- 15QA Qualifications, terms and conditions of service of Presiding Officer and Member
- 15R Orders constituting Appellate Tribunal to be final and not to invalidate its proceedings
- 15S Staff of the Securities Appellate Tribunal
- 15T Appeal to the Securities Appellate Tribunal
- 15U Procedure and powers of the Securities Appellate Tribunal
- 15V Right to legal representation
- 15W Limitation
- 15X Presiding Officer, Members and staff of Securities Appellate Tribunals to be public servants
- 15Y Civil Court not to have jurisdiction
- 15Z Appeal to Supreme Court
- MISCELLANEOUS
- 16 Power of Central Government to issue direction
- 17 Power of Central Government to supersede the Board
- 18 Returns and reports
- 19 Delegation
- 20 Appeals
- 20A Bar of jurisdiction
- 21 Savings
- 22 Members, officers and employees of the Board to be public servants
- 23 Protection of action taken in good faith
- 24 Offences
- 24A Composition of certain offences
- 24B Power to grant immunity
- 25 Exemption from tax on wealth and income
- 26 Cognizance of offences by courts
- 26A Establishment of Special Courts
- 26B Offences triable by Special Courts
- 26C Appeal and revision
- 26D Application of Code to proceedings before Special Court
- 26E Transitional provisions
- 27 Contravention by companies
- 28 Omitted.
- 28A Recovery of amounts
- 28B Continuance of proceedings
- 29 Power to make rules
- 30 Power to make regulations
- 31 Rules and regulations to be laid before Parliament
- 32 Application of other laws not barred
- 33 Repealed.
- 34 Power to remove difficulties
- 34A Validation of certain acts
- 35 Repeal and saving
