Section 14 – The Securities and Exchange Board of India Act, 1992

The Securities and Exchange Board of India Act, 1992

 

14. FUND.

 

(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 grants, fees and charges received by the Board under this Act;

 

(aa) all sums realized by way of penalties under this Act; and

 

(b) all sums received by the Board from such other sources as may be decided upon by the Central Government.

 

(2) The Fund shall be applied for meeting –

 

(a) the salaries, allowances and other remuneration of the members, officers and other employees of the Board;

 

(b) the expenses of the Board in the discharge of its functions under section 11;

 

(c) the expenses on objects and for purposes authorized by this Act.

 

 

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The Securities and Exchange Board of India Act, 1992

 

Indian Laws – Bare Acts

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