B.COM FINAL YEAR E-CONTENT AND SYLLBUS 
         
        PAPER – IV ECONOMIC LAWS (C-304)  
          
         The  Securities  and  Exchange 
        Board of India (SEBI) Act 1992 
       
        Section 1. Short title, extent and commencement 
        [Act No. 15 OF 1992] 
         
        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 extents to the whole of India. 
        (3) It shall be deemed to have come into force on the 30th day of January, 
        1992. 
        Section 2. Definitions 
        (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 11 AA;] 
              (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. 1(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 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 o India Act, 1934;] 
              (i) “Securities” has the meaning assigned to it in section 2 of the Securities 
              Contracts (Regulation) Act, 1956 (42 of 1956). 
              3[(2) Words and expressions used and not defined in this Act but defined in 
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              the  Securities  Contracts  (Regulation)  Act,  1956,  (42  of  1956)  [or  the 
              Depositories Act, 1996]shall have the meanings respectively assigned to them 
              in that Act] 
       1. Inserted by Securities Laws (Amendment) Act, 1999, w.e.f. 2-2-
       2000. 
       2. Inserted vide SEBI (Amdt.) Act, 2002, w.e.f. 29-10-2002. 
       3. Substituted by the Securities Laws (Amendment) Act, 1996, 20-9-
       1995. 
       4. Inserted by the Depositories Act, 1996, w.e.f. 20-9-1995.