Section 7A
Member not to participate in meetings in certain cases.
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[7A. Member not to participate in meetings in certain cases.---Any member, who is a director of
a company and who as such director has any direct or indirect pecuniary interest in any matter coming up
for consideration at a meeting of the Board, shall, as soon as possible after relevant circumstances have
come to his knowledge, disclose the nature of his interest at such meeting and such disclosure shall be
recorded in the proceedings of the Board, and the member shall not take any part in any deliberation or
decision of the Board with respect to that matter.]
Notes
1. Ins. by s. 4, ibid. (w.e.f. 25-1-1995).