Section 11A
Board to regulate or prohibit issue of prospectus, offer document or advertisement soliciting money for issue of securities.
The Securities and Exchange Board of India Act, 1992
About this Act
An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto.
1 [2[11A. Board to regulate or prohibit issue of prospectus, offer document or advertisement
soliciting money for issue of securities.-- (1) Without prejudice to the provisions of the Companies Act,
1956 (1 of 1956), the Board may, for the protection of investors,---
(a) specify, by regulations--
(i) the matters relating to issue of capital, transfer of securities and other matters incidental thereto; and
(ii) the manner in which such matters shall be disclosed by the companies;
(b) by general or special orders---
(i) prohibit any company from issuing prospectus, any offer document, or advertisement soliciting money from the public for the issue of securities;
(ii) specify the conditions subject to which the prospectus, such offer document or advertisement, if not prohibited, may be issued.
(2) Without prejudice to the provisions of section 21 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Board may specify the requirements for listing and transfer of securities and other matters incidental thereto.]
(a) specify, by regulations--
(i) the matters relating to issue of capital, transfer of securities and other matters incidental thereto; and
(ii) the manner in which such matters shall be disclosed by the companies;
(b) by general or special orders---
(i) prohibit any company from issuing prospectus, any offer document, or advertisement soliciting money from the public for the issue of securities;
(ii) specify the conditions subject to which the prospectus, such offer document or advertisement, if not prohibited, may be issued.
(2) Without prejudice to the provisions of section 21 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Board may specify the requirements for listing and transfer of securities and other matters incidental thereto.]
Notes
1. Ins. by Act 9 of 1995, s. 6 (w.e.f. 25-1-1995).
2. Subs. by Act 59 of 2002, s. 5, for section 11A (w.e.f. 29-10-2002).
2. Subs. by Act 59 of 2002, s. 5, for section 11A (w.e.f. 29-10-2002).