The Securities and Exchange Board of India Act, 1992 (hereinafter referred as “The SEBI Act”) is accepting ex post facto impression and is viewed as to have come into drive on January 30, 1992. A Board by the name of the Securities and Exchange Board of India (SEBI) representing of one president and five members, one each from the division of Finance and Law of the Central Government, one of the Reserve Bank of India and two other individuals and having its head office in Bombay and territorial offices in Delhi, Calcutta and Madras has been formed under the SEBI Act to administer its conditions.
G.S.R. 937 (E) in exertion of the powers discussed by division 29 of the Securities and Exchange Board of India, Act 1992 (15 of 1992), the Central Government hereby constructs the following rules, namely: – Short title and commencement:
(1) These rules may be called the Securities and Exchange Board of India (Merchant Bankers) Rules, 1992
(2) They shall come into force on the date of their publishing in the semiofficial Gazette.