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    <title>Licensing of dealers in securities in certain areas</title>
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    <description>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.</description>
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      <description>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.</description>
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