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CS Executive · Capital Market and Securities Laws · Securities and Exchange Board of India

SEBI's governing Act states where the head office of the Board is to be located and whether it may have other offices. Which statement is correct as per Section 3?

The head office of SEBI is at Bombay, and the Board may establish offices at other places in India. Section 3(3) fixes the location of the head office, while Section 3(4) gives the Board power to open offices elsewhere in India.

  1. AHead office is at Bombay; the Board may establish offices at other places in IndiaCorrect
  2. BHead office is at New Delhi; branch offices may be opened only abroad
  3. CHead office is at Bombay; no other office may be opened without an Act of Parliament
  4. DHead office is decided by the Chairman from time to time; offices may be opened anywhere in the world

Explanation

Section 3(3) fixes the head office at Bombay, and Section 3(4) lets the Board establish offices at other places in India. The options on New Delhi, an Act of Parliament, or offices anywhere in the world do not match the text.

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