Act Number: 15

Act Name: The Securities and Exchange Board of India Act, 1992

Year: 1992

Enactment Date: 1992-04-04

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Economic Affairs

Section 15G: Penalty for insider trading.
    1[15G. Penalty for insider trading.-- If any insider who,
         (i) either on his own behalf or on behalf of any other person, deals in securities of a body corporate listed on any stock exchange on the basis of any unpublished price sensitive information; or
     (ii) communicates any unpublished price sensitive information to any person, with or without his request for such information except as required in the ordinary course of business or under any law; or
         (iii) counsels, or procures for any other person to deal in any securities of any body corporate on the basis of unpublished price sensitive information,
shall be liable to a penalty 2[which shall not be less than ten lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of insider trading, whichever is higher].]
Notes:
1. Ins. by Act 9 of 1995, s. 9 (w.e.f. 25-1-1995). br 2. Subs. by Act 27 of 2014, s.12, for certain words (w.e.f.8-2-2014).
Previous Section Next Section
Scroll to Top