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CS Executive · Capital Market and Securities Laws · Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market

Section 12A of the SEBI Act, 1992 applies to which securities in respect of its prohibition on manipulative and deceptive devices and fraud under clauses (a) to (c)?

Clauses (a) to (c) of Section 12A cover securities that are listed or proposed to be listed on a recognised stock exchange. The prohibition on manipulative devices and fraud is tied to such securities, not to unlisted, government or already delisted securities.

  1. AOnly securities of unlisted public companies
  2. BOnly government securities
  3. CSecurities listed or proposed to be listed on a recognised stock exchangeCorrect
  4. DOnly securities already delisted

Explanation

Clauses (a), (b) and (c) of Section 12A refer to securities listed or proposed to be listed on a recognised stock exchange. Unlisted, government or delisted securities are not the stated subject of those clauses.

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