CMA Final · Corporate and Economic Laws · SEBI Laws and Regulations
Under the Securities and Exchange Board of India Act, 1992, what is the stated relationship between the Act and other laws in force?
The SEBI Act provisions are in addition to, and not in derogation of, any other law for the time being in force (Section 32). The Act therefore operates alongside other laws and does not override or replace them.
- AThe Act overrides every other law for the time being in force
- BThe Act applies only where no other law covers the matter
- CThe Act is in addition to, and not in derogation of, other laws for the time being in forceCorrect
- DThe Act applies only after the Central Government notifies each other law as inapplicable
Explanation
Section 32 of the SEBI Act states that its provisions are in addition to, and not in derogation of, any other law in force. So the Act does not override other laws and does not displace them. The option saying it overrides all other laws reverses the rule.
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
- SEBI considers it expedient that a depository amend a bye-law and issues a written order specifying a period. The depository neglects to com…
- An entity argues that because SEBI Act, 1992 governs a certain conduct, no other statute can apply to it. Which provision answers this argum…
- Section 32 of the SEBI Act, 1992 provides that the provisions of the Act shall be:
- Under the Securities and Exchange Board of India Act, 1992, what is the effect of the provision on the application of other laws?
- Under Section 26 of the Securities Contracts (Regulation) Act, 1956 (as currently in force), which of the following is correct about cogniza…
- Which of the following is a matter on which a depository's bye-laws must provide under the Depositories Act, 1996?