Home › CS Executive › securitieslaws › Securities Contracts (Regulation) Act, 1956 › Under Section 8 of the SCRA, the Central Governm…
Under Section 8 of the SCRA, the Central Government may direct a recognised stock exchange to make or amend rules within a specified period from the date of the direction. What is that statutory window?
Answer & Solution
Correct answer: C.
1. Section 8 empowers the CG to direct rule-making by a recognised stock exchange.
2. The direction must be complied with within a period of two months from the date of the order.
3. If the exchange fails to comply, the CG itself may make the rules.
4. The two-month window is the operative statutory deadline.
_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