Regulatory power: SEBI may make securities regulations specifying eligibility, governance and settlement terms, subject to parliamentary review. The provision authorises SEBI to notify regulations consistent with the Securities Contracts (Regulation) Act to implement the Act's purposes, including prescribing public holding and eligibility requirements for recognised stock exchanges, terms for settlement of specified proceedings, and other matters appropriate for regulation. Regulations so made must be laid before both Houses of Parliament for review and may be modified or annulled by Parliament without affecting prior valid actions under those regulations.