Powers of SEBI - tradecareer

                                                        POWERS OF SEBI 

1. Power to make or amend Bye-laws of Recognised Stock Exchanges

SEBI has power to make or amend bye-laws of a RSE. 

Following are the requisites to use this power:

* SEBI can use this power suo-motu (on its own) or on a request made by 

governing body of stock exchange.

* It can exercise such power if it is satisfied after consultation with the governing 

body of the stock exchange that it is necessary or expedient to do so.

* Such bye-laws should be published in the Official Gazette.

* It will be effective from the date of publication in Official Gazette.

* It will take effect as if the bye-laws are made by the RSE.

* The making or the amendment or revision of any bye-laws shall in all cases be 

subject to the condition of previous publication.

                                                                          


Objection by Governing Body

Where the governing body of a RSE objects to any bye-laws made or amended by SEBI 

on its own motion, it may, within 2 months of the publication in the Gazette of India 

apply to SEBI for revision thereof and SEBI may, after giving an opportunity of being 

heard to the governing matter revise the bye-laws so made or amended.

2. Power to make Regulations

SEBI may, by notification in the Official Gazette, make regulations consistent with the 

provisions of this Act and the rules made thereunder to carry out the purposes of this 

Act.

3. Adjudicating Power

SEBI shall appoint any officer not below the rank of a Division Chief of SEBI to be an 

adjudicating officer for holding an inquiry in the prescribed manner after giving any 

person concerned a reasonable opportunity of being heard for the purpose of imposing 

any penalty.

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