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Start Free TrialCompanies Act, 1956 Section 73
Title: Allotment of Shares and Debentures to Be Dealt in on Stock Exchange
State: Central
Year: 1956
.....debentures offered thereby to be dealt in on any stock exchange, unless it is a recognised stock exchange. _____________________ 1. Inserted by Act 31 of 1988, Section 10 (w.e.f. 15-6-1968). 2. Substituted by Act 41 of 1974, Section 8, for original sub-section (1) (w.e.f. 1-2-1975). 3. Sub-section (1) re-numbered as sub-section (1A) thereof by Act 31 of 1988, Section 10 (w.e.f. 15-6-1988). 4. Substituted by Act 31 of 1988, Section 10, for "application has been, or will be" (w.e.f. 15-6-1988). 5. Certain words omitted by Act 31 of 1988, Section 10 (w.e.f. 15-6-1988). 6. Substituted by Act 31 of 1988, Section 10, for "applied for as aforesaid" (w.e.f. 15-6-1988). 7. Substituted by Act 41 of 1974, Section 8, for "or has not been granted as aforesaid" (w.e.f. 1-2-1975). 8. Substituted by Act 31 of 1988, Section 10, for certain words (w.e.f. 15-6-1988). 9. Proviso omitted by Act 31 of 1988, Section 10 (w.e.f. 15-6-1988). 10. Inserted by Act 41 of 1974, Section 8 (w.e.f. 1-2-1975). 11. Substituted by Act 31 of 1988, Section 10, for certain words (w.e.f. 15-6-1988). 12. Substituted by Act 53 of 2000, Section 30, for "five thousand rupees" (w.e.f. 13-12-2000). .....
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Section 4
Title: Grant of Recognition to Stock Exchanges
State: Central
Year: 1956
.....under this section shall be published in the Gazette of India and also in the Official Gazette of the State in which the principal office of the stock exchange is situate, and such recognition shall have effect as from the date of its publication in the Gazette of India. (4) No application for the grant of recognition shall be refused except after giving an opportunity to the stock exchange concerned to be heard in the matter; and the reasons for such refusal shall be communicated to the stock exchange in writing. (5) No rules of a recognised stock exchange relating to any of the matters specified in sub-section (2) of section 3 shall be amended except with the approval of the Central Government.
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Section 22A
Title: Right of Appeal to Securities Appellate Tribunal Against Refusal of Stock Exchange to List Securities of Public Companies
State: Central
Year: 1956
.....for such refusal are furnished to it, or (b) where the stock exchange has omitted or failed to dispose of, within the time specified in sub-section (M) of section 73 of the Companies Act, 1956 (1 of 1956) (hereafter in this section referred to as the "specified time"), the application for permission for the shares or debentures to be dealt with on the stock exchange, within fifteen days from the date of expiry of the specified time or within such farther period, not exceeding one month, as the Securities Appellate Tribunal may, on sufficient cause being shown, allow, appeal to the Securities Appellate Tribunal having jurisdiction in the matter against such refusal, omission or failure, as the case may be, and thereupon the Securities Appellate Tribunal may, after giving the stock exchange, an opportunity of being heard,-- (i) vary or set aside the decision of the stock exchange; or (ii) where the stock exchange has omitted or failed to dispose of the application within the specified time, grant or refuse the permission, and where the Securities Appellate Tribunal sets aside the decision of the recognised, stock exchange or grants the permission, the stock.....
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Section 4A
Title: Corporatisation and Demutualisation of Stock Exchanges
State: Central
Year: 1956
1[4A. Corporatisation and demutualisation of stock exchanges.- On and from the appointed date, all recognised stock exchanges (if not corporatised and demutualised before the appointed date) shall be corporatised and demutualised in accordance with the provisions contained in Section 4B: Provided that the Securities and Exchange Board of India may, if it is satisfied that any recognised stock exchange was prevented by sufficient cause from being corporatised and demutualised on or after the appointed date, specify another appointed date in respect of that recognised stock exchange and such recognised stock exchange may continue as such before such appointed date. Explanation.-- For the purposes of this Section, "appointed date" means the date which the Securities and Exchange Board of India may, by notification in the Official Gazette, appoint and different appointed dates may be appointed for different recognised stock exchanges] ________________________ 1. Inserted vide The Securities Laws (Amendment) Act, 2004
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Section 10
Title: Power of Central Government to Make or Amend Byelaws of Recognised Stock Exchanges
State: Central
Year: 1956
.....of the publication thereof in the Gazette of India under sub-section (2) , apply to the Central Government for revision thereof, and the Central Government may, after giving an opportunity to the governing body of the stock exchange to be heard in the matter, revise the bye-laws so made or amended, and where any bye-laws so made or amended are revised as a result of any action taken under this sub-section, the bye-laws so revised shall be published and shall become effective as provided in sub-section (2). (4) The making or the amendment or revision of any bye-laws under this section shall in all cases be subject to the condition of previous publication; Provided that if the Central Government is satisfied in any case that in the interest of the trade or in the public interest any bye-laws should be made, amended or revised immediately, it may, by order in writing specifying the reasons therefor, dispense with the condition of previous publication.
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Section 22
Title: Right of Appeal Against Refusal by Stock Exchanges to List Securities of Public Companies
State: Central
Year: 1956
.....reasons for suchrefusal are furnished to it, or (b) where the stock exchange has omitted or failed to dispose of, withinthe time specified in sub section (1) of section 73 of the Companies Act,1956 (1of 1956) (hereafter in this section referred to as the "specifiedtime"), the application for permission for the shares or debentures to bedealt with on the stock exchange, within fifteen days from the date of expiry ofspecified time or within such further period, not exceeding one month, as theCentral Government may, on sufficient cause being shown, allow, appeal to the Central Government against such refusal, omission offailure, as the case may be, and thereupon the Central Government may, aftergiving the stock exchange an opportunity of being heard,- (i) vary or set aside the decision of the stock exchange, or (ii) where the stockexchange has omitted or failed to dispose of the application within thespecified time, grant or refuse the permission, and where the CentralGovernment sets aside the decision of the recognised stock exchange or grantsthe permission, the stock exchange shall act in conformity with the orders ofthe Central Government: 2 [Provided thatno appeal.....
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 40
Title: Securities to Be Dealt with in Stock Exchanges
State: Central
Year: 2013
.....for the repayment of monies within the time specified by the Securities and Exchange Board, received from applicants in pursuance of the prospectus, where the company is for any other reason unable to allot securities. (4) Any condition purporting to require or bind any applicant for securities to waive compliance with any of the requirements of this section shall be void. (5) If a default is made in complying with the provisions of this section, the company shall be punishable with a fine which shall not be less than five lakh rupees but which may extend to fifty lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than fifty thousand rupees but which may extend to three lakh rupees, or with both. (6) A company may pay commission to any person in connection with the subscription to its securities subject to such conditions as may be prescribed.
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Section 11
Title: Power of Central Government to Supersede Governing Body of a Recognised Stock Exchange
State: Central
Year: 1956
.....of the governing body whichhas been superseded; (c) all such property of the recognised stock exchange as the person orpersons appointed under sub-section(1) may, by order in writing,specify in this behalf as being necessary for the purpose of enabling him orthem to carry on the business of the stock exchange, shall vest in such personor persons. (3) Notwithstandinganything to the contrary contained in any law or the rules or bye-lawsof the recognised stock exchange the governing body of which is superseded undersub-section (1), theperson or persons appointed under that sub-section shall hold office for such period as may be specified inthe notification published under that sub-section , and the Central Government may from time to time, bylike notification, vary such period. (4) The CentralGovernment may at any time before the determination of the period of office ofany person or persons appointed under this section call upon the recognisedstock exchange to re-constitutethe governing body in accordance with its rules and on such re-constitutionall the property of the stock exchange which has vested in, or was in thepossession of, the person or persons appointed under.....
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Section 7A
Title: Power of Recognized Stock Exchange to Make Rules Restricting Voting Rights, Etc.
State: Central
Year: 1956
.....stock exchange made or amended in relation to any matter referred toin clauses (a) to (d)of sub-section (1) shallhave effect until they have been approved by the Central Government andpublished by that Government in the Official Gazette and, in approving the rulesso made or amended, the Central Government may make such modifications thereinas it thinks fit, and on such publication, the rules as approved by the CentralGovernment shall be deemed to have been validly made, notwithstanding anythingto the contrary contained in the Companies Act, 1956 (1 of 1956.).".] __________________________ 1. Inserted by theSecurities Contracts (Regulation) Amendment Act, 1959, w.e.f. 08-12-1959.
View Complete Act List Judgments citing this sectionPayment and Settlement Systems Act 2007 Section 34
Title: Act Not to Apply to Stock Exchanges or Clearing Corporations of Stock Exchanges
State: Central
Year: 2007
Nothing contained in this Act shall apply to stock exchanges or the clearing corporations of the stock exchanges.
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