Section 32 of The Securities and Exchange Board of India Act, 1992
The provisions of this Act shall be in addition to, and
not in derogation of, the provisions of any other law for the time being in force.
[33. Amendment of certain enactments.] Rep. by the Repealing and Amending Act, 2001 (30 of 2001), s. 2 and the First Schedule (w.e.f. 3-9-2001).
Summary
- The provisions inside this Act apply in addition to any other existing laws.
- This Act does not reduce, weaken, or take away the power of any other law currently in force.
- A person or business must comply with this Act while also continuing to obey all other applicable laws.
Practical examples
FAQ
1. Does this Act protect someone from being charged under other laws?
No, this Act does not act as a shield against other existing laws.
2. Can a person be punished under this Act and another law for the exact same event?
Yes, because the provisions of this Act are explicitly in addition to other laws in force.
3. What does the phrase "not in derogation of" mean?
It means this Act does not reduce, limit, or override the power of any other active law.
Test yourself
Q1.Under Section 32 of The Securities and Exchange Board of India Act, 1992, how does this Act relate to other existing laws?
Q2.Under Section 32 of The Securities and Exchange Board of India Act, 1992, if an action violates both this Act and another financial statute, what is the legal outcome based on this provision alone?
Q3.Under Section 32 of The Securities and Exchange Board of India Act, 1992, what does the phrase "not in derogation of" mean for ordinary citizens?
Q4.Under Section 32 of The Securities and Exchange Board of India Act, 1992, which laws are preserved by this provision?