The Securities and Exchange Board of India was built up on April 12, 1992 as per the arrangements of the Securities and Exchange Board of India Act, 1992.

Introduction

The Preamble of the Securities and Exchange Board of India portrays the fundamental elements of the Securities and Exchange Board of India as "...to ensure the premiums of financial specialists in securities and to advance the improvement of, and to direct the securities showcase and for issues associated therewith or coincidental thereto"

Under Section 28A of the Securities Contracts Regulation Act (SCRA) embedded by the SEBI Act, the Government may appoint powers exercisable by it likewise to the SEBI, subject to such restrictions/condition as might be stipulated by the Government. While designating the forces to the SEBI, the Government may hold the power in connection to any issue under the Act. In regard of the accompanying issues, the SEBI has been approved to practice controls under the SCRA which were some time ago practiced by the Government:

1. Call of periodic returns stock exchanges;
2. Prescribe maintenance of certain documents by the exchanges.
3. Call upon the exchange/any member(s) to furnish explanation/information relating to the affairs of the exchange/any member(s) and appoint any person to conduct an inquiry into the affairs of the governing body of any exchanges/any member of the exchange.
4. Approve byelaws of the exchange (s) for regulation and control of contracts;
5. Licensing of dealers in securities in certain areas; and
6. Compel a public company to, list its shares.

The Securities Contracts (Regulation) Act, 1956 [As amended by Finance Act, 2017]

Attached Files

The Securities Contracts (Regulation) Act, 1956 [As amended by Finance Act, 2017].pdf (581.0 KB, 147 views)