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In force

The Securities and Exchange Board of India Act, 1992

66 sections · As amended up to 2026-08

Sections

  1. I — PRELIMINARY
  2. 1Short title, extent and commencement
  3. 2Definitions
  4. II — ESTABLISHMENT OF THE SECURITIES AND EXCHANGE BOARD OF INDIA
  5. 3Establishment and incorporation of Board
  6. 4Management of the Board
  7. 5Term of office and conditions of service of Chairman and members of the Board
  8. 6Removal of member from office
  9. 7Meetings
  10. 8Vacancies, etc., not to invalidate proceedings of Board
  11. 9Officers and employees of the Board
  12. IV — POWERS AND FUNCTIONS OF THE BOARD
  13. 11Functions of Board
  14. 11AACollective investment scheme
  15. 11BPower to issue directions[2] [and levy penalty]
  16. 11CInvestigation
  17. 11DCease and desist proceedings
  18. V — REGISTRATION CERTIFICATE
  19. 12Registration of stock-brokers, sub-brokers, share transfer agents, etc
  20. 12AProhibition of manipulative and deceptive devices, insider trading and substantial acquisition of securities or control
  21. 14Fund
  22. 15Accounts and audit
  23. 15APenalty for failure to furnish information, return, etc
  24. 15BPenalty for failure by any person to enter into agreement with clients
  25. 15CPenalty for failure to redress investors' grievances
  26. 15FPenalty for default in case of stock brokers
  27. 15GPenalty for insider trading
  28. 15HPenalty for non-disclosure of acquisition of shares and take-overs
  29. 15HAPenalty for fraudulent and unfair trade practices
  30. 15HBPenalty for contravention where no separate penalty has been provided
  31. 15JACrediting sums realised by way of penalties to Consolidated Fund of India
  32. 15JBSettlement of administrative and civil proceedings
  33. 15MQualification for appointment as Presiding Officer, Judicial Member and Technical Member
  34. 15MAAmendment of Presiding Officer and Judicial Members
  35. 15MBSearch-cum-Selection Committee for appointment of Technical Members
  36. 15MCVacancy not to invalidate selection proceeding
  37. 15NTenure of office of Presiding Officer, Judicial or Technical Members of Securities Appellate Tribuna
  38. 15PFilling up of vacancies
  39. 15PAMember to act as Presiding Officer in certain circumstances
  40. 15QResignation and removal
  41. 15SStaff of the Securities Appellate Tribunal
  42. 15TAppeal to the Securities Appellate Tribunal
  43. 15UProcedure and powers of the Securities Appellate Tribunal
  44. 15VRight to legal representation
  45. 15WLimitation
  46. 15YCivil Court not to have jurisdiction
  47. 15ZAppeal to Supreme Court
  48. VII — MISCELLANEOUS
  49. 16Power to Central Government to issue directions
  50. 17Power of Central Government to supersede the Board
  51. 18Returns and reports
  52. 19Delegation
  53. 20Appeals
  54. 21Savings
  55. 22Members, officers and employees of the Board to be public servants
  56. 23Protection of action taken in good faith
  57. 24BPower to grant immunity
  58. 25Exemption from tax on wealth and income
  59. 26Cognizance of offences by courts
  60. 26BOffences triable by Special Courts
  61. 26CAppeal and revision
  62. 26DApplication of Code to proceedings before Special Court
  63. 26ETransitional provisions
  64. 28ARecovery of amounts
  65. 28BContinuance of proceedings
  66. 29Power to make rules
  67. 30Power to make regulations
  68. 31Rules and regulations to be laid before Parliament
  69. 32Application of other laws not barred
  70. 34Power to remove difficulties
  71. 35Repeal and saving