Licensing requirement for securities dealers mandates regulator-issued licences in designated areas, with exemption for exchange members. Persons dealing in securities in areas where section 13 is not declared applicable must obtain a licence from the Securities and Exchange Board of India; a Central Government notification bringing an area under this requirement requires satisfaction that licensing is desirable or expedient in the interest of trade or the public, and dealings by or on behalf of members of a recognised stock exchange are exempt.
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.
Licensing requirement for securities dealers mandates regulator-issued licences in designated areas, with exemption for exchange members.
Persons dealing in securities in areas where section 13 is not declared applicable must obtain a licence from the Securities and Exchange Board of India; a Central Government notification bringing an area under this requirement requires satisfaction that licensing is desirable or expedient in the interest of trade or the public, and dealings by or on behalf of members of a recognised stock exchange are exempt.
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