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        SEBI

        Section 10 - Transfer of Assets, liabilities, etc., of Existing Securities and Exchange Board to the Board

        Securities and Exchange Board of India Act, 1992
        Chapter III
        TRANSFER OF ASSETS, LIABILITIES, ETC., OF THE EXISTING SECURITIES AND EXCHANGE BOARD TO THE BOARD

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        Transfer of SEBI assets, liabilities and proceedings to the new Board; employees retain terms, absorption excludes ID Act compensation. On establishment of the Board, references to the existing Securities and Exchange Board shall be treated as references to the Board; the existing Board's assets vest in the Board and its rights, debts, obligations, contracts and liabilities transfer to the Board; sums due to the existing Board are deemed due to the Board; pending or potential suits may be continued or instituted by or against the Board; employees continue with the same tenure and terms or may opt out within six months, and absorption does not confer entitlement to compensation under the Industrial Disputes Act or other laws.
                        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.

                              Transfer of SEBI assets, liabilities and proceedings to the new Board; employees retain terms, absorption excludes ID Act compensation.

                              On establishment of the Board, references to the existing Securities and Exchange Board shall be treated as references to the Board; the existing Board's assets vest in the Board and its rights, debts, obligations, contracts and liabilities transfer to the Board; sums due to the existing Board are deemed due to the Board; pending or potential suits may be continued or instituted by or against the Board; employees continue with the same tenure and terms or may opt out within six months, and absorption does not confer entitlement to compensation under the Industrial Disputes Act or other laws.


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