Home › CS Executive › securitieslaws › Securities Contracts (Regulation) Act, 1956 › A practising company secretary advises a stock e…
A practising company secretary advises a stock exchange that all recognition matters are decided exclusively by the Central Government. Which fact about SEBI from the lesson directly contradicts that view?
Answer & Solution
Correct answer: D.
1. The lesson notes that SCRA recognition was originally a CG-only power.
2. Powers under Section 4 (grant of recognition) and Section 5 (withdrawal) have been delegated concurrently to SEBI.
3. So SEBI may also exercise these powers in addition to the CG.
4. SEBI is not barred from the SCRA, nor does it need a writ to act.
5. Foreign stock exchange recognition is not the subject of the SCRA at all.
_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