The Securities and Exchange Board of India Act, 1992

Central Act · Act 15 of 199288 provisions192 citing judgments

The enactment

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.
Type	Act
Citation	Act 15 of 1992
Year	1992
Jurisdiction	Central
Ministry	Ministry of Finance
Status	In force as published by the source
Provisions published	88
Subjects	financial

Full text, provision by provision

Every provision below opens in full, free and without an account.

Section 1 Short title, extent and commencement.
Section 2 Definitions.1 citing judgment
Section 3 Establishment and incorporation of Board.
Section 4 Management of the Board.2 citing judgments
Section 5 Term of office and conditions of service of Chairman and members of the Board.
Section 6 Removal of member from office.
Section 7 Meetings.
Section 7A Member not to participate in meetings in certain cases.
Section 8 Vacancies, etc., not to invalidate proceedings of Board.
Section 9 Officers and employees of the Board.
Section 10 Transfer of assets, liabilities, etc., of existing Securities and Exchange Board to the Board.
Section 11 Functions of Board.14 citing judgments
Section 11A Board to regulate or prohibit issue of prospectus, offer document or advertisement soliciting money for issue of securities.
Section 11AA Collective investment scheme.1 citing judgment
Section 11B Power to issue directions and levy penalty.8 citing judgments
Section 11C Investigation.3 citing judgments
Section 11D Cease and desist proceedings.2 citing judgments
Section 12 Registration of stock-brokers, sub-brokers, share transfer agents, etc.7 citing judgments
Section 12A Prohibition of manipulative and deceptive devices, insider trading and substantial acquisition of securities or control.9 citing judgments
Section 13 Grants by the Central Government.
Section 14 Fund.1 citing judgment
Section 15 Accounts and audit.5 citing judgments
Section 15-I Power to adjudicate.6 citing judgments
Section 15A Penalty for failure to furnish information, return, etc.5 citing judgments
Section 15B Penalty for failure by any person to enter into agreement with clients.4 citing judgments
Section 15C Penalty for failure to redress investors‟ grievances.2 citing judgments
Section 15D Penalty for certain defaults in case of mutual funds.2 citing judgments
Section 15E Penalty for failure to observe rules and regulations by an asset management company.3 citing judgments
Section 15EA Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts.1 citing judgment
Section 15EB Penalty for default in case of investment adviser and research analyst.1 citing judgment
Section 15F Penalty for default in case of stock brokers.2 citing judgments
Section 15G Penalty for insider trading.2 citing judgments
Section 15H Penalty for non-disclosure of acquisition of shares and takeovers.3 citing judgments
Section 15HA Penalty for fraudulent and unfair trade practices.15 citing judgments
Section 15HAA Penalty for alteration, destruction, etc., of records and failure to protect the electronic database of Board.
Section 15HB Penalty for contravention where no separate penalty has been provided.4 citing judgments
Section 15J Factors to be taken into account while adjudging quantum of penalty.4 citing judgments
Section 15JA Crediting sums realised by way of penalties to Consolidated Fund of India.3 citing judgments
Section 15JB Settlement of administrative and civil proceedings.1 citing judgment
Section 15K Establishment of Securities Appellate Tribunals.1 citing judgment
Section 15L Composition of Securities Appellate Tribunal.1 citing judgment
Section 15M Qualification for appointment as Presiding Officer or Member of Securities Appellate Tribunal.2 citing judgments
Section 15MA Amendment of Presiding Officer and Judicial Member.
Section 15MB Search-cum-Selection Committee for appointment of Technical Members.
Section 15MC Vacancy not to invalidate selection proceeding.
Section 15N Tenure of office of Presiding Officer and other Members of Securities Appellate Tribunal.
Section 15O Salary and allowances and other terms and conditions of service of Presiding Officers.
Section 15P Filling up of vacancies.
Section 15PA Member to act as Presiding Officer in certain circumstances
Section 15Q Resignation and removal.
Section 15QA Qualifications, terms and conditions of service of Presiding Officer and Member.
Section 15R Orders constituting Appellate Tribunal to be final and not to invalidate its proceedings.
Section 15S Staff of the Securities Appellate Tribunal.
Section 15T Appeal to the Securities Appellate Tribunal.3 citing judgments
Section 15U Procedure and powers of the Securities Appellate Tribunal.1 citing judgment
Section 15V Right to legal representation.
Section 15W Limitation.
Section 15X Presiding Officer, Members and staff of Securities Appellate Tribunals to be public servants.
Section 15Y Civil Court not to have jurisdiction.3 citing judgments
Section 15Z Appeal to Supreme Court.17 citing judgments
Section 16 Power of Central Government to issue directions
Section 17 Power of Central Government to supersede the Board.
Section 18 Returns and reports.1 citing judgment
Section 19 Delegation.3 citing judgments
Section 20 Appeals.
Section 20A Bar of jurisdiction.1 citing judgment
Section 21 Savings.1 citing judgment
Section 22 Members, officers and employees of the Board to be public servants.
Section 23 Protection of action taken in good faith.1 citing judgment
Section 24 Offences.10 citing judgments
Section 24A Composition of certain offences.1 citing judgment
Section 24B Power to grant immunity.
Section 25 Exemption from tax on wealth and income.
Section 26A Establishment of Special Courts.2 citing judgments
Section 26B Offences triable by Special Courts.2 citing judgments
Section 26C Appeal and revision.
Section 26D Application of Code to proceedings before Special Court.
Section 26E Transitional provisions.2 citing judgments
Section 27 Contravention by companies.2 citing judgments
Section 28A Recovery of amounts.4 citing judgments
Section 28B Continuance of proceedings.1 citing judgment
Section 29 Power to make rules.2 citing judgments
Section 30 Power to make regulations.15 citing judgments
Section 31 Rules and regulations to be laid before Parliament.3 citing judgments
Section 32 Application of other laws not barred.2 citing judgments
Section 34 Power to remove difficulties.
Section 34A Validation of certain acts.
Section 35 Repeal and saving.

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