CMA Final · Corporate and Economic Laws · SEBI Laws and Regulations
Section 32 of the SEBI Act, 1992 provides that the provisions of the Act shall be:
Section 32 of the SEBI Act says its provisions are in addition to, and not in derogation of, any other law for the time being in force. The Act therefore works alongside other laws and does not replace them or rank below them.
- Ain addition to, and not in derogation of, the provisions of any other law for the time being in forceCorrect
- Bin substitution of all other laws relating to securities markets
- Csubordinate to the Companies Act, 2013 in case of any conflict
- Dapplicable only where no other law covers the matter
Explanation
Section 32 states that the SEBI Act operates in addition to, and not in derogation of, any other law in force. It therefore does not replace or override other laws. The substitution and subordination options misstate this cumulative position.
Did you get it right without looking?
One question tells you little. A timed set on SEBI Laws and Regulations shows your real accuracy, how long you take and where you lose marks.
More SEBI Laws and Regulations questions
- Under Section 26 of the Securities Contracts (Regulation) Act, 1956, as given in the official text, on whose complaint may a court take cogn…
- Under the Depositories Act, 1996, a depository makes its bye-laws in which manner?
- Under the Securities Contracts (Regulation) Act, 1956, as it now stands, on whose complaint may a court take cognizance of an offence punish…
- Regarding regulations made by SEBI under Section 31 of the Securities Contracts (Regulation) Act, 1956, which statement is correct?
- A depository has been directed by SEBI, by an order in writing under Section 26(3) of the Depositories Act, 1996, to amend a bye-law within …
- An entity argues that because SEBI Act, 1992 governs a certain conduct, no other statute can apply to it. Which provision answers this argum…