Power to suspend stock exchange business in an emergency via notification; extensions require prior hearing of the exchange. The Central Government, and by delegation SEBI, may by notification in the Official Gazette direct a recognised stock exchange to suspend specified business activities in an emergency for a limited period and on conditions stated in the notification; the notification must set out reasons. Extensions of the suspension are permitted where necessary in the public or trade interest, but any extension beyond the first period requires that the governing body of the recognised stock exchange be given an opportunity to be heard.
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 suspend stock exchange business in an emergency via notification; extensions require prior hearing of the exchange.
The Central Government, and by delegation SEBI, may by notification in the Official Gazette direct a recognised stock exchange to suspend specified business activities in an emergency for a limited period and on conditions stated in the notification; the notification must set out reasons. Extensions of the suspension are permitted where necessary in the public or trade interest, but any extension beyond the first period requires that the governing body of the recognised stock exchange be given an opportunity to be heard.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
