Power to make rules: central government may prescribe rules and penalties subject to parliamentary lay before and modification. Power to make rules vests in the Central Government to implement the Act by notification, including prescribing matters which the Act requires or permits to be provided by rules. Rules may attach penal consequences for contravention, including continuing daily penalties. Every rule and SEBI regulation under the Act must be laid before each House of Parliament for a cumulative thirty days across sessions; both Houses may modify or annul the rule or regulation within that period, without prejudice to the validity of prior actions under the rule or regulation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Power to make rules: central government may prescribe rules and penalties subject to parliamentary lay before and modification.
Power to make rules vests in the Central Government to implement the Act by notification, including prescribing matters which the Act requires or permits to be provided by rules. Rules may attach penal consequences for contravention, including continuing daily penalties. Every rule and SEBI regulation under the Act must be laid before each House of Parliament for a cumulative thirty days across sessions; both Houses may modify or annul the rule or regulation within that period, without prejudice to the validity of prior actions under the rule or regulation.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
