Delegation of regulatory powers under section 29A enables SEBI to exercise specified powers of the Central Government under the Act. The notification directs that the Central Government's regulatory powers under sub section (5) of section 4 and sections 7, 8, 11, 12 and 16 of the Securities Contracts (Regulation) Act, 1956 shall be exercisable by the Securities and Exchange Board of India, effecting an executive delegation under section 29A to centralise specified supervisory and regulatory functions in SEBI.
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Provisions expressly mentioned in the judgment/order text.
Delegation of regulatory powers under section 29A enables SEBI to exercise specified powers of the Central Government under the Act.
The notification directs that the Central Government's regulatory powers under sub section (5) of section 4 and sections 7, 8, 11, 12 and 16 of the Securities Contracts (Regulation) Act, 1956 shall be exercisable by the Securities and Exchange Board of India, effecting an executive delegation under section 29A to centralise specified supervisory and regulatory functions in SEBI.
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