Home › CS Executive › securitieslaws › Securities Contracts (Regulation) Act, 1956 › Under Section 6 read with the SCRA, every recogn…
Under Section 6 read with the SCRA, every recognised stock exchange and each of its members must maintain and preserve the prescribed books of accounts and documents for a maximum period. What is that maximum period?
Answer & Solution
Correct answer: B.
1. Section 6 deals with periodical returns and direct enquiries by the CG and SEBI.
2. It requires recognised stock exchanges and their members to maintain books and documents.
3. The maximum retention period prescribed is "not exceeding five years".
4. After that period, the documents may be destroyed unless the CG prescribes otherwise.
_Source: ICSI CS Executive Paper 6 (Securities Laws and Capital Markets) — Lesson 1: Securities Contracts (Regulation) Act, 1956, pp. 4-21._
Related questions
Section 13A of the SCRA enables a recognised stock exchange to establish an additional traAfter an adjudicating officer passes an order under Section 23-I, SEBI has a revisional poSection 23-I of the SCRA empowers SEBI to appoint an adjudicating officer for imposing penSection 22B of the SCRA lays down the procedural framework for the Securities Appellate TrSection 21A of the SCRA gives the right to appeal to the Securities Appellate Tribunal agaSection 18A of the SCRA sets out the conditions under which a contract in derivatives is lFor computing the "eighth day" repayment deadline in Section 17A, the SCRA prescribes a spSection 17A of the SCRA deals with public issue and listing of certificates by a special p