Section 55A – The Companies Act,1956

The Companies Act, 1956

55A. Powers of Securities and Exchange Board of India.

1[55A. Powers of Securities and Exchange Board of India.

The provisions contained in sections 55 to 58, 59 to 84, 108, 109, 110, 112, 113, 116, 117, 118, 119, 120, 121, 122, 206, 206A and 207, so far as they relate to issue and transfer of securities and non-payment of dividend shall,

(a)in case of listed public companies;

(b)in case of those public companies which intend to get their securities listed on any recognized stock exchange in India,be administered by the Securities and Exchange Board of India; and

(c)in any other case, be administered by the Central Government.

Explanation.For removal of doubts, it is hereby declared that all powers relating to all other matters including the matters relating to prospectus, statement in lieu of prospectus, return of allotment, issue of shares and redemption of ir-redeemable preference shares shall be exercised by the Central Government,2[Tribunal] or the Registrar of Companies, as the case may be.]

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1. Ins. by Act 53 of 2000, sec. 16 (w.e.f. 13-12-2000).

2. Subs. by Act 11 of 2003, sec. 9, for “Company Law Board”.

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