Securities and Exchange Board of India (SEBI)
The Presidents/Executive Directors
of all stock exchanges
Delegation of Powers to SEBI under the SC(R), Act, 1956
As you are aware, the Central Government has delegated powers under the Sections 6, 9, 10, 17 and 21 of the Securities Contracts (Regulation) Act, 1956 to SEBI under Part II of the Schedule under Section 33 of the Securities and Exchange Board of India Act, 1992.
The Government has further issued a notification on July 30, 1992 directing that the powers under the sub-section (5) of Section 4 and Sections 7, 8, 11, 12 and 16 of the Securities Contracts (Regulation) Act, 1956, which are exercisable by the Central Government shall also be exercisable by Securities and Exchange Board of India (SEBI). A copy of the notification is enclosed for reference and information.
Please acknowledge the receipt of this letter.
(HEAD – SECONDARY MARKET DEPARTMENT – I )