21Savings
Nothing in this Act shall exempt any person from any suit or other proceedings which might, apart from this Act, be brought against him.( Savings)...
35Repeal and saving
(1) The Securities and Exchange Board of India Ordinance 1992 (Ord.5 of 1922) is hereby repealed.(2) Notwithstanding such repeal anything done or any action ...
1Short title, extent and commencement
(1) This Act may be called the Securities and Exchange Board of India Act, 1992.(2) It extents to the whole of India.(3) It shall be deemed to have come int...
29Power to make rules
(1) The Central Government may be notification, make rules for carrying out the purposes of this ActIn particular and without prejudice to the generality of...
31Rules and regulations to be laid before Parliament
Every rule and every regulation made under this Act shall be laid as soon as may be after it is made, before each House of Parliament while it is in session ...
18Returns and reports
(1) The Board shall furnish to the Central Government at such time and in such form and manner as may be prescribed or as the Central Government may direct, ...
26Cognizance of Offences by courts
(1) No court shall take cognizance of any offence punishable under this Act or any rules or regulations made thereunder, save on a complaint made by the Boar...
9Officers and employees of the Board
The Board may appoint such other officers and employees as it considers necessary for the efficient discharge of its function under this Act.(2) The term and...
24Penalty
Whoever contrivances or attempts to contrivance or abets the contravention of the provisions of this Act or any rules of regulations made there under, shall ...
12Registration of stock-brokers, sub-brokers, share transfer agents, etc
(1) No stock-broker, sub-broker, share transfer agent, banker to an issue, trustee of trust deed, registrar to an issue, merchant banker, underwriter, portfo...
3Establishment and incorporation of Board
(1) With effect from such date as the Central Government may, by notification, appoint, there shall be established, for the purposes of this Act, a Board by t...
32Application of other laws not barred
The provisions of this Act shall be in addition to and not in derogation of the provisions of any other law for the time being in force....
Part I
(29 OF 1947)In section 10 for to that Government substitute to that Government or the Securities and Exchange Board of India...
8Vacancies, etc., not to invalidate proceedings of Board
No act or proceeding of the Board shall be invalid merely by reason of-(a) any vacancy in, or any defect in the constitution of, the Board;or (b) any defec...
10Transfer of assets, liabilities, etc., of existing Securities and Exchange Board to the Board
(1) On and from the date of establishment of the Board,-(a) any reference to the existing Securities and Exchange Board in any law other than this Act or in ...
17Power of Central Government to supersede the Board
(1) If at any time the Central Government is of opinion-(a) that on account of grave emergency, the Board is unable to discharge the functions and duties im...
33Amendment of certain enactments
The enactment's specified in Parts I and II of the Schedule to this Act shall be Amended in the manner specified therein and such Amendments shall take effec...
20Appeals
(1) Any person aggrieved by an order of the Board made under this Act, or the rules or regulations made thereunder may prefer an appeal to the Central Govern...
2Definitions
(1) In this Act, unless the context otherwise requires,-(a) "Board" means the Securities and Exchange Board of India established under section 3;(b) "Chair...
15Accounts and audit
(1) The Board shall maintain proper accounts and other relevant records and prepare and annual statement of accounts in such form as may be prescribed by the...
22Members, officers and employees of the Board to be public servants
All members, officers and other employees of the Board shall be deemed when acting or purporting to act in pursuance of any of the provisions of this Act, to...
27Offences by companies
(1) Where an offence under this Act was committed was in charge of, and was responsible to, the company for the conduct of the business of the company, as we...
4Management of the Board
(1) The Board shall consist of the following members, namely:--(a) a Chairman;(b) two members form amongst the officials of the Ministries of the Central Go...
6Removal of member from office
(1) The Central Government shall remove a member from office if he-(a) is, or at any time has been, adjudicated as insolvent;(b) is of unsound mind and stand...
Part II
(42 OF 1956)1.Section 2 in clause (h) for sub-clause (ii) substitute the following(ii) Government securities(iia) such other instruments as may be declared b...
25Exemption from tax on wealth and income
Notwithstanding anything contained in the Wealth-tax Act, 1957, (27 of 1957) the Income-tax Act, 1961 (43 of 1961) or any other enactment for the time being ...
13Grants by the Central Government
The Central Government may, after due appropriation made by Parliament by law in this behalf, make to the Board grants of such sums of money as that Governmen...
SectionsParticulars
Chapter IPreliminary
Chapter IIEstablishment Of The Securities And Exchange Board Of India
Chapter IIITransfer Of Assets, Liabilities, Etc., Of The Existing Securities And Exchange Board To The Board
Chapter IVPowers And Functions Of The Board
Chapter VRegistration Certificate
Chapter VIFinance, Accounts And Audit
Chapter VIIMiscellaneous
ScheduleSchedule
34Power to remove difficulties
(1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette make such...
23Protection of action taken in good faith
No suit, prosecution or other legal proceedings shall lie against the Central Government or any officer of the Central Government or any member, officer or o...
14Fund
(1) There shall be constituted a Fund to be called the Securities and Exchange Board of India General Fund and there shall be credited thereto-(a) all grant...
16Power of Central Government to issue directions
(1) Without prejudice to the foregoing provisions of this Act, the Board shall, in exercise of its powers or the performance of its functions under this Act, ...
11Functions of Board
(1) Subject to the provisions of this Act, it shall be the duty of the Board to protect the interests of investors in securities and to promote the developmen...
30Power to make regulations
(1) The Board may with the previous approval of the Central Government by notification make regulations consistent with this Act and the rules made there und...
28Power to exempt
If the Central Government is of the opinion that it is necessary or expedient so to do in public interest. it may by order published in the Official Gazette, ...
7Meetings
(1) The Board shall meet at such times and places, and shall observe such rules of procedure in regard to the transaction of business at its meetings (includ...
19Delegation
The Board may, by general or special order in writing delegate to any member, officer of the Board or any other person subject to such conditions, if any, as...
5Term of office and conditions of service of Chairman and members of the Board
(1) The term of officer and other condition of service of the Chairman and the members referred to in clause (d) of sub-section (1) of section 4 shall be such...