Securities and Exchange Board of India Act, 1992

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The Securities and Exchange Board of India Act, 1992
Emblem of India.svg
Parliament of India
Long title
  • An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto.
CitationAct No. 15 of 1992
Enacted byParliament of India
Enacted4 April 1992
Commenced30 January 1992
Status: In force

The Securities and Exchange Board of India Act, 1992 is an Act of the enacted for regulation and development of securities market in India. It was amended in the years 1995, 1999 and 2002 to meet the requirements of changing needs of the securities market.

It is the 15th Act of 1992. The Act provides for the establishment of Securities and Exchange Board of India following the Harshad Mehta scam.

The Act contains 10 Chapters and 91 Sections.

Preamble[]

The Securities and Exchange Board of India is the sole regulator of the Indian Securities Market. Its Preamble describes its basic function as "...to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incid thereto"[1]

Management of the Board[]

The management of Board is run by its members appointed by the central Government:[2]

(a) Chairman
(b) Two members from the Ministry of Finance of the Union.
(c) One member from the Reserve Bank
(d) five other members.

Functions of Board[]

(1) Protect the interest of investors in securities market, regulate the securities market in India.

(2) Registering the depositories, investment schemes, mutual funds.

(3) Promoting fundamental education needed to invest in securities markets.[3]

See also[]

References[]

  1. ^ "SEBI Website".
  2. ^ "THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 – Lawyers Law". Retrieved 3 April 2021.
  3. ^ Dhar, Kaushik (1 March 2012). "Securities Exchange Board of India (SEBI) Act, 1992: A Summary". Rochester, NY. Cite journal requires |journal= (help)


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