Section 1. Short title, extent and commencement

CHAPTER I PRELIMINARY 1. Short title, extent and commencement. —(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. The word "and" omitted by Act 9 of 1995, s. 8 (w.e.f. 25-1-1995). 2. Clause (aa) omitted by Act 59 of 2002, s. 8 (w.e.f. 29-10-2002). 3. Ins by Act 23 of 2019, s. 182 (20-1-2020). 4. Ins. by Act 9 of 1995, s. 9 (w.e.f. 25-1-1995). (a) to furnish any document, return or report to the Board, fails to furnish the same[1] [or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents ] he shall be liable to[2] [a penalty[3] [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees]]; (b) to file any return or furnish any information, books or other documents within the time specified therefor in the regulations, fails to file return or furnish the same within the time specified therefor in the regulations[1] [ or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents ] , he shall be liable to[4] [a penalty[3] [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees]]; (c) to maintain books of account or records, fails to maintain the same, he shall be liable to[5] [a penalty[3] [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees]]. 1. The Explanation ins. by Act 21 of 2019, s. 42 and the Sch. II (w.e.f. 21-2-2019). 2. Ins. by Act 13 of 2018, s. 190 (w.e.f. 8-3-2019). 3. Ins. by Act 50 of 2019, s. 33 and the Sch. II (w.e.f. 1-10-2020). (a) the term of office and other conditions of service of the Chairman and the members under sub-section (1) of section 5; (b) the additional functions that may be performed by the Board under section 11; 1* * * * *; (d) the manner in which the accounts of the Board shall be maintained under section 15; 2[(da) the manner of inquiry under sub-section (1) of section 15-I; (db) the salaries and allowances and other terms and conditions of service of the[3] [Presiding Officers, Members] and other officers and employees of the Securities Appellate Tribunal under section 15-O and sub-section (3) of section 15S; (dc) the procedure for the investigation of misbehaviour or incapacity of the[4] [Presiding Officers, or other Members] of the Securities Appellate Tribunal under sub-section (3) of section 15Q; (dd) the form in which an appeal may be filed before the Securities Appellate Tribunal under section 15T and the fees payable in respect of such appeal;] (e) the form and the manner in which returns and report to be made to the Central Government under section 18; (f) any other matter which is to be, or may be, prescribed, or in respect of which provision is to be, or may be, made by rules.