Section 19
Stock exchanges other than recognised stock exchanges prohibited.
The Securities Contracts (Regulation) Act, 1956
About this Act
An Act to prevent undesirable transactions in securities by regulating the business of dealing therein, by providing for certain other matters connected therewith.
(1) No person shall,
except with the permission of the Central Government, organise or assist in organising or be a member of
any stock exchange (other than a recognised stock exchange) for the purpose of assisting in, entering into
or performing any contracts in securities.
(2) This section shall come into force in any State or area on such date as the Central Government may, by notification in the Official Gazette, appoint.
(2) This section shall come into force in any State or area on such date as the Central Government may, by notification in the Official Gazette, appoint.