In 1956, the Securities Contracts (Regulation) Act was passed. It's also known as the SCRA, and it's one of the first few rules and regulations or laws enacted in India's capital markets. The SCRA governs contracts made on Indian stock exchanges and securities markets.
(j) "Any body of individuals, whether incorporated or not, organised for the purpose of assisting, regulating, or controlling the business of buying, selling, or dealing in securities" is defined as "any body of individuals, whether incorporated or not, constituted for the purpose of assisting,
The Board's functions are also addressed in Section 11 of the SEBI Act. Under Section 11(2)(a), SEBI has the authority to regulate the business of stock exchanges and other securities markets.
The Securities and Exchange Board of India (SEBI) is India's top securities regulator, similar to the Securities and Exchange Commission in the United States. SEBI has broad regulatory, investigation, and enforcement capabilities, as well as the capacity to penalise violators.
The SCRA was intended to give additional protections for servicemembers in the event that legal or financial activities during military or uniformed service have a detrimental effect on their rights. These safeguards allow servicemembers to focus their complete attention on the nation's military needs.
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