Section 55A - Powers of Securities and Exchange Board of India. - Companies Act, 1956

Powers of Securities and Exchange Board of India. [1] [55A. The provisions contained in sections 55 to 58, 59 to 84, 108, 109, 110, 112, 113, 116, 117, 118, 119, 120, 121, 122, 206, 206A and 207, so far as they relate to issue and transfer of securities and non-payment of dividend shall, (a) in case of listed public companies; (b) in case of those public companies which intend to get their securities listed on any recognized stock exchange in India, be administered by the Securities and Exchange Board of India; and (c) in any other case, be administered by the Central Government. Explanation . For removal of doubts, it is hereby declared that all powers relating to all other matters including the matters relating to prospectus, statement in lieu of prospectus, return of allotment, issue of shares and redemption of irredeemable preference shares shall be exercised by the Central Government, [2] [Tribunal] or the Registrar of Companies, as the case may be.] --------------------------------------- Notes:- [1] Inserted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. [2] Substituted for "Company Law Board" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified.