The SECURITIES CONTRACTS (REGULATION) ACT, 1956

PRELIMINARY

Section 1 — Short title, extent and commencement.

(1) This Act may be called the Securities Contracts (Regulation) Act, 1956.

(2) It extents to the whole of India.

(3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

Browse all 76 sections
  1. 1.Short title, extent and commencement.
  2. 2.Definitions.
  3. 2A.Interpretation of certain words and expressions.
  4. 3.Application for recognition of stock exchanges.
  5. 4.Grant of recognition to stock exchanges.
  6. 4A.Corporatisation and demutualisation of stock exchanges.
  7. 4B.Procedure for corporatisation and demutualisation.
  8. 5.Withdrawal of recognition.
  9. 6.Power of Central Government to call for periodical returns or direct inquiries to be made.
  10. 7.Annual reports to be furnished to the Central Government by stock exchanges.
  11. 7A.Power of recognised stock exchange to make rules restricting voting rights, etc.
  12. 8.Power of Central Government to direct rules to be made or to make rules.
  13. 8A.Clearing corporation.
  14. 9.Power of recognised stock exchanges to make bye-laws.
  15. 10.Power of Securities and Exchange Board of India to make or amend bye-laws of recognised stock exchanges.
  16. 11.Power of Central Government to supersede governing body of a recognised stock exchange.
  17. 12.Power to suspend business of recognised stock exchanges.
  18. 12A.Power to issue directions.
  19. 13.Contracts in notified areas illegal in certain circumstances.
  20. 13A.Additional trading floor.
  21. 14.Contracts in notified areas to be void in certain circumstances.
  22. 15.Members may not act as principals in certain circumstances.
  23. 16.Power to prohibit contracts in certain cases.
  24. 17.Licensing of dealers in securities in certain areas.
  25. 17A.Public issue and listing of securities referred to in sub-clause (ie) of clause (h) of section 2.
  26. 18.Exclusion of spot delivery contracts from sections 13, 14, 15 and 17.
  27. 18A.Contracts in derivatives.
  28. 19.Stock exchanges other than recognised stock exchanges prohibited.
  29. 20.[Omitted.].
  30. 21.Conditions for listing.
  31. 21A.Delisting of securities.
  32. 22.Right of appeal against refusal by stock exchanges to list securities of public companies.
  33. 22A.Right of appeal to Securities Appellate Tribunal against refusal of stock exchange to list securities of public companies.
  34. 22B.Procedure and powers of Securities Appellate tribunal.
  35. 22C.Right to legal representation.
  36. 22D.Limitation.
  37. 22E.Civil Court not to have jurisdiction.
  38. 22F.Appeal to Supreme Court.
  39. 23.Penalties.
  40. 23A.Penalty for failure to furnish information, return, etc.
  41. 23B.Penalty for failure by any person to enter into an agreement with clients.
  42. 23C.Penalty for failure to redress Investors grievances.
  43. 23D.Penalty for failure to segregate securities or moneys of client or clients.
  44. 23E.Penalty for failure to comply with provision of listing conditions or delisting conditions or grounds.
  45. 23F.Penalty for excess dematerialisation or delivery of unlisted securities.
  46. 23G.Penalty for failure to furnish periodical returns, etc.
  47. 23GA.Penalty for failure to conduct business in accordance with rules, etc.
  48. 23H.Penalty for contravention where no separate penalty has been provided.
  49. 23-I.Power to adjudicate.
  50. 23J.Factors to be taken into account while adjudicating quantum of penalty.
  51. 23JA.Settlement of administrative and civil proceedings.
  52. 23JB.Recovery of amounts.
  53. 23JC.Continuance of proceedings.
  54. 23K.Crediting sum realised by way of penalties to Consolidated Fund of India.
  55. 23L.Appeal to Securities Appellate Tribunal.
  56. 23M.Offences.
  57. 23N.Composition of certain offences.
  58. 23-O.Power to grant immunity.
  59. 24.Contravention by companies.
  60. 25.Certain offences to be cognizable.
  61. 26.Cognizance of offences by courts.
  62. 26A.Establishment of Special Courts.
  63. 26B.Offences triable by Special Courts.
  64. 26C.Appeal and Revision.
  65. 26D.Application of Code to proceedings before Special Court.
  66. 26E.Transitional provisions.
  67. 27.Title to dividends.
  68. 27A.Right to receive income from collective investment scheme.
  69. 27B.Right to receive income from mutual fund.
  70. 28.Act not to apply in certain cases.
  71. 29.Protection of action taken in good faith.
  72. 29A.power to delegate.
  73. 30.Power to make rules.
  74. 30A.Special provisions related to commodity derivatives.
  75. 31.Power of Securities and Exchange Board of India to make regulations.
  76. 32.Validation of certain acts.