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The Schedule – The Securities and Exchange Board of India Act, 1992

The Securities and Exchange Board of India Act, 1992

 

THE SCHEDULE

 

AMENDMENT OF CERTAIN ENACTMENTS

 

II AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956

 

[ACT NO. 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 by the Central Government to be securities; and”;

 

2. Section 6, –

 

(i) in sub-section (1), for “Central Government”, substitute “Securities and Exchange Board of India”;

 

(ii) in sub-section (2), for “by the Central Government”, substitute “by the Securities and Exchange Board of India”;

 

(iii) in sub-section (3), for “Central Government” wherever it occurs, substitute “Securities and Exchange Board of India”;

 

3. Section 9, for “Central Government” wherever it occurs, substitute “Securities and Exchange Board of India”;

 

4. Section 10, for “Central Government” wherever it occurs, substitute “Securities and Exchange Board of India”;

 

5. Section 17, in sub-section (1), for “licence granted by the Central Government”, substitute “licence granted by the Securities and Exchange Board of India”;

 

6. Section 21, for “Central Government”, substitute “Securities and Exchange Board of India”;

 

7. Section 22A, in sub-section (3), for clause (b), substitute the following :-

“(b) that the transfer of the securities is in contravention of any law or rules made thereunder or any administrative instructions or conditions of listing agreement laid down in pursuance of such laws or rules;”;

 

8. In sub-section (2) of section 23, for “Central Government under section 21 or section 22”, substitute “Securities and Exchange Board of India under section 21 or the Central Government under section 22”;

 

9. After section 29, insert the following :-

 

29A. Power to delegate. – The Central Government may, by order published in the Official Gazette, direct that the powers exercisable by it under any provision of this Act shall, in relation to such matters and subject to such conditions, if any as may be specified in the order, be exercisable also by the Securities and Exchange Board of India.

 

 

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The Securities and Exchange Board of India Act, 1992

 

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