PRELIMINARYCentral
Section 1 of The Securities and Exchange Board of India Act, 1992
- (1)This Act may be called the Securities and Exchange Board of India Act, 1992.
- (2)It extends to the whole of India.
- (3)It shall be deemed to have come into force on the 30th day of January, 1992.
Summary
- The formal name of this law is the Securities and Exchange Board of India Act, 1992.
- The rules of this law apply to the entire country of India.
- The law is legally considered to have started on the 30th day of January, 1992.
Practical examples
1Anita lives in Kerala and buys shares in a local business. Even though she is far from the capital, this law fully applies to her investment because it extends to the whole of India.
2A legal dispute happens regarding a stock trade that took place on 15 February 1992. This law applies to that trade because the law officially came into force slightly before that, on 30 January 1992.
FAQ
1. Does this law apply to every state in the country?
Yes, it extends to the whole of India.
2. What is the exact date the law took effect?
It is deemed to have come into force on the 30th day of January, 1992.
3. What is the official name to use when talking about this law?
It is called the Securities and Exchange Board of India Act, 1992.
Test yourself
Q1.Under Section 1 of The Securities and Exchange Board of India Act, 1992, what is the geographic reach of the law?
Q2.Under Section 1 of The Securities and Exchange Board of India Act, 1992, on what exact date is the law deemed to have come into force?
Q3.Under Section 1 of The Securities and Exchange Board of India Act, 1992, what is the short title of the Act?
Q4.Under Section 1 of The Securities and Exchange Board of India Act, 1992, if a stock market violation occurred on 15 January 1992, would the commencement date cover it?