CS Executive · Capital Market and Securities Laws · Securities and Exchange Board of India
Ravi is studying the structure of the SEBI Board under the SEBI Act, 1992. Which of the following correctly lists the composition of the Board as per Section 4(1)?
The SEBI Board consists of a Chairman, two Central Government officials from the Finance and Companies Act administration ministry, one RBI official, and five other members, at least three of whom must be whole-time members.
- AA Chairman, two Finance Ministry/Companies Act officials, one RBI official and five other members of whom at least three are whole-time membersCorrect
- BA Chairman, one Finance Ministry official, two RBI officials and five other members of whom at least two are whole-time members
- CA Chairman, two Finance Ministry/Companies Act officials, one RBI official and three other members, all of them whole-time
- DA Chairman, three Central Government officials and five other members nominated by the Reserve Bank
Explanation
Section 4(1) provides for a Chairman, two members from officials of the Ministry dealing with Finance and administration of the Companies Act, one member from RBI officials, and five other members of whom at least three are whole-time. The other options alter the numbers or the nominating body.
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