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THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

Title : THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

Year : 1992

[Act, No. 15 of 1992]
[4th April, 1992]

PREAMBLE

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.

Be it enacted by Parliament in the Forty-third Year of the Republic of India as follows:-



(1) This Act may be called the Securities and Exchange Board of India Act, 1992.

(2) It extends to the whole of India.

(3) It shall be deemed to have come into force on the 30th day of January, 1992.



(1) In this Act, unless the context otherwise requires,-

(a) "Board" means the Securities and Exchange Board of India established under section 3;

(b) "Chairman" means the Chairman of the Board;

1*[(ba) "Collective investment scheme" means any scheme or arrangement which satisfies the conditions specified in section 11AA;]

(c) "Existing Securities and Exchange Board" means the Securities and Exchange Board of India constituted under the Resolution of the Government of India in the Department of Economic Affairs No. l(44)SE/86, dated the 12th day of April, 1988;

(d) "Fund" means the Fund constituted under section 14;

(e) "Member" means a member of the Board and includes the Chairman;

(f) "Notification" means a notification published in the Official Gazette;

(g) "Prescribed" means prescribed by rules made under this Act;

(h) "Regulations" means the regulations made by the Board under this Act;

2*[(ha) "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934);]

(i) "Securities" has the meaning assigned to it in section 2 of the Securities Contracts (Regulation) Act, 1956.

3*[(2) Words and expression used and not defined in this Act but defined in4*[the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or the Depositories Act, 1996 (22 of 1996)] shall have the meanings respectively assigned to them in that Act.]

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1. Inserted by Act 31 of 1999, section 11 (w.e.f. 22-2-2000).

2. Inserted by Act 59 of 2002, section 2 (w.r.e.f. 29-10-2002).

3. Substituted by Act 9 of 1995, section 2, for sub-section (2) (w.r.e.f. 25-1-1995).

4. Substituted by Act 22 of 1996, section 30 and Schedule, for "The Securities Contracts (Regulation) Act, 1956 (42 of 1956)" (w.r.e.f. 20-9-1995).

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Last updated on July, 2016

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