CS Executive · Capital Market and Securities Laws · Securities and Exchange Board of India
Aarav is asked on what date the SEBI Act, 1992 is deemed to have come into force. Under Section 1, which date applies?
The Act is deemed to have come into force on 30th January, 1992 under Section 1(3). The other dates relate to the 1988 resolution constituting the earlier Board or to later amendments, not to the Act's commencement.
- A12th April, 1988
- B30th January, 1992Correct
- C25th January, 1995
- D22nd February, 2000
Explanation
Section 1(3) says the Act is deemed to have come into force on 30th January, 1992. 12 April 1988 is the date of the Government resolution constituting the existing Board (Section 2(c)). 25 January 1995 and 22 February 2000 are dates of later amendments.
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