Securities and Exchange Board of India Act, 1992
Bare Act · 1992
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 number
- 15 of 1992
- Enacted
- 4 April 1992
- Contents
- 91 sections · 11 chapters
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Contents
Chapter I — Preliminary
Chapter II — Establishment Of The Securities And Exchange Board Of India
- Section 3 – Establishment and incorporation of Board
- Section 4 – Management of the Board
- Section 5 – Term of office and conditions of service of Chairman and members of the Board
- Section 6 – Removal of member from office (preview)
- Section 7 – Meetings (preview)
- Section 7A – Member not to participate in meetings in certain cases (preview)
- Section 8 – Vacancies, etc., not to invalidate proceedings of Board (preview)
- Section 9 – Officers and employees of the Board (preview)
Chapter III — Board
Chapter IV — Powers And Functions Of The Board
- Section 11 – Functions of Board (preview)
- Section 11A – Board to regulate or prohibit issue of prospectus, offer document or advertisement soliciting money for issue of securities (preview)
- Section 11AA – Collective investment scheme (preview)
- Section 11B – Power to issue directions and levy penalty (preview)
- Section 11C – Investigation (preview)
- Section 11D – Cease and desist proceedings (preview)
Chapter V — Registration Certificate
Chapter VA — Prohibition Of Manipulative And Deceptive Devices, Insider Trading And Substantial Acquisition Of Securities Or Control
Chapter VI — Finance, Accounts And Audit
- Section 13 – Grants by the Central Government (preview)
- Section 14 – Fund (preview)
- Section 15 – Accounts and audit (preview)
Sections
- Section 15-I – Power to adjudicate (preview)
- Section 15O – Salary and allowances and other terms and conditions of service of Presiding Officers (preview)
- Section 26 – Cognizance of offences by courts (preview)
Chapter VIA — Penalties And Adjudication
- Section 15A – Penalty for failure to furnish information, return, etc (preview)
- Section 15B – Penalty for failure by any person to enter into agreement with clients (preview)
- Section 15C – Penalty for failure to redress investors‟ grievances (preview)
- Section 15D – Penalty for certain defaults in case of mutual funds (preview)
- Section 15E – Penalty for failure to observe rules and regulations by an asset management company (preview)
- Section 15EA – Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts (preview)
- Section 15EB – Penalty for default in case of investment adviser and research analyst (preview)
- Section 15F – Penalty for default in case of stock brokers (preview)
- Section 15G – Penalty for insider trading (preview)
- Section 15H – Penalty for non-disclosure of acquisition of shares and takeovers (preview)
- Section 15HA – Penalty for fraudulent and unfair trade practices (preview)
- Section 15HAA – Penalty for alteration, destruction, etc., of records and failure to protect the electronic database of Board (preview)
- Section 15HB – Penalty for contravention where no separate penalty has been provided (preview)
- Section 15J – Factors to be taken into account while adjudging quantum of penalty (preview)
- Section 15JA – Crediting sums realised by way of penalties to Consolidated Fund of India (preview)
- Section 15JB – Settlement of administrative and civil proceedings (preview)
Chapter VIB — Establishment, Jurisdiction, Authority And Procedure Of Securities Appellate Tribunal
- Section 15K – Establishment of Securities Appellate Tribunals (preview)
- Section 15L – Composition of Securities Appellate Tribunal (preview)
- Section 15M – Qualification for appointment as Presiding Officer or Member of Securities Appellate Tribunal (preview)
- Section 15MA – Amendment of Presiding Officer and Judicial Member (preview)
- Section 15MB – Search-cum-Selection Committee for appointment of Technical Members (preview)
- Section 15MC – Vacancy not to invalidate selection proceeding (preview)
- Section 15N – Tenure of office of Presiding Officer and other Members of Securities Appellate Tribunal (preview)
- Section 15P – Filling up of vacancies (preview)
- Section 15PA – Member to act as Presiding Officer in certain circumstances (preview)
- Section 15Q – Resignation and removal (preview)
- Section 15QA – Selection, qualifications, conditions of service, allowances, etc. (preview)
- Section 15R – Orders constituting Appellate Tribunal to be final and not to invalidate its proceedings (preview)
- Section 15S – Staff of the Securities Appellate Tribunal (preview)
- Section 15T – Appeal to the Securities Appellate Tribunal (preview)
- Section 15U – Procedure and powers of the Securities Appellate Tribunal (preview)
- Section 15V – Right to legal representation (preview)
- Section 15W – Limitation (preview)
- Section 15X – Presiding Officer, Members and staff of Securities Appellate Tribunals to be public servants (preview)
- Section 15Y – Civil Court not to have jurisdiction (preview)
- Section 15Z – Appeal to Supreme Court (preview)
Chapter VII — Miscellaneous
- Section 16 – Power of Central Government to issue directions (preview)
- Section 17 – Power of Central Government to supersede the Board (preview)
- Section 18 – Returns and reports (preview)
- Section 19 – Delegation (preview)
- Section 20 – Appeals (preview)
- Section 20A – Bar of jurisdiction (preview)
- Section 21 – Savings (preview)
- Section 22 – Members, officers and employees of the Board to be public servants (preview)
- Section 23 – Protection of action taken in good faith (preview)
- Section 24 – Offences (preview)
- Section 24A – Composition of certain offences (preview)
- Section 24B – Power to grant immunity (preview)
- Section 25 – Exemption from tax on wealth and income (preview)
- Section 26A – Establishment of Special Courts (preview)
- Section 26B – Offences triable by Special Courts (preview)
- Section 26C – Appeal and revision (preview)
- Section 26D – Application of Code to proceedings before Special Court (preview)
- Section 26E – Transitional provisions (preview)
- Section 27 – Contravention by companies (preview)
- Section 28 – Omitted (preview)
- Section 28A – Recovery of amounts (preview)
- Section 28B – Continuance of proceedings (preview)
- Section 29 – Power to make rules (preview)
- Section 30 – Power to make regulations (preview)
- Section 31 – Rules and regulations to be laid before Parliament (preview)
- Section 32 – Application of other laws not barred (preview)
- Section 33 – Repealed (preview)
- Section 34 – Power to remove difficulties (preview)
- Section 34A – Validation of certain acts (preview)
- Section 35 – Repeal and saving (preview)