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The article gives an outlook on SEBI, its preamble, the functions of the board, the introduction of the carry forward deal and the amendment to SEBI act.
Home » Securities and Exchange Board of India
Securities and Exchange Board of India
On April 12, 1992, the Securities and Exchange Board Of India was constituted. It was constituted in accordance with the provisions of the Securities and Exchange Board Of India Act 1992.
Preamble “…..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”. Functions Of The Board
Carry Forward Deals
Carry Forward Deal is a trade for which settlement occurs at a specified future date and price. Carry Forward Deals were made acceptable on the recommendations of the Patel Committee report, SEBI submitted on 27 July 1995. Some of the important features of the revised carry forward transactions as outlined by SEBI are:
On 26 January1995, the government promulgated an ordinance amending the SEBI Act, 1992, and the Securities Contracts (Regulation) Act, 1956. In accordance with the amendment, delivering judgment will be created within SEBI and any appeal against this adjudicating authority will have to be made to the Securities Appellate Tribunal, which is to be separately constituted. The appeals related to SEBI will be heard only at the High Courts. The main aspects of the amendment to the Securities Contract (Regulation) Act, 1956, are:
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