Regulation 17(1A) is not applicable for the purpose of filling up a casual vacancy under Section 161(4) of the Companies Act. Regulation 17(1A) cannot be read in isolation.
This article is a clause by clause analysis of the powers of the SEBI/Board. A preamble to a statute is a preliminary statement of the reasons which have made the passing of the statute. But the preamble of SEBI Act, 1992 is translated into function of Board under sub section (1) of section 11 of SEBI Act, 1992 (Act).