Central government power to direct stock exchanges to make or amend rules; government may itself enact rules on non-compliance. The Central Government may, after consultation with governing bodies of recognised stock exchanges, direct exchanges to make or amend rules within a prescribed period, now two months, by written order with reasons. If an exchange fails to comply, the Central Government may itself make or amend the rules, either as proposed or with agreed modifications. Rules made under this power must be published in the Gazette of India and relevant State Gazettes and, on publication in the Gazette of India, operate as if made or amended by the recognised stock exchange.
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.
Central government power to direct stock exchanges to make or amend rules; government may itself enact rules on non-compliance.
The Central Government may, after consultation with governing bodies of recognised stock exchanges, direct exchanges to make or amend rules within a prescribed period, now two months, by written order with reasons. If an exchange fails to comply, the Central Government may itself make or amend the rules, either as proposed or with agreed modifications. Rules made under this power must be published in the Gazette of India and relevant State Gazettes and, on publication in the Gazette of India, operate as if made or amended by the recognised stock exchange.
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