Question
Under Section 12A of the Securities Contracts (Regulation) Act (SCR
- A , 1956, if the Board (SEB
- I is satisfied that it is necessary in the interest of investors or the securities market, it has the power to:
Solution
Section 12A of the SCRA, 1956, gives SEBI the "Power to issue directions." If SEBI finds, after an inquiry, that it is necessary in the interest of investors, the securities market, or to prevent the affairs of a stock exchange from being conducted in a detrimental manner, it can issue written directions to any stock exchange, clearing corporation, or person associated with the market. This is one of the most powerful "emergency" and "regulatory" provisions in the Act.
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