Section 458. Delegation by Central Governemnt of its powers and functions | Companies Act Integrated Ready Reckoner|Companies Act 2013|CAIRR

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Section 458. Delegation by Central Governemnt of its powers and functions

Effective from 12-09-2013

(1) The Central Government may, by , and subject to such conditions, limitations and restrictions as may be specified therein, delegate any of its powers or functions under this Act other than the power to make rules to such authority or officer as may be specified in the notification:

the powers to enforce the provisions contained in section 194 and section 195 relating to forward dealing and insider trading shall be delegated to Securities and Exchange Board for listed companies or the companies which intend to get their listed and in such case, any officer authorised by the shall have the power to file a complaint in the court of competent jurisdiction.

(2) A copy of every notification issued under sub-section (1) shall, as soon as may be after it is issued, be laid before each House of Parliament.

2(58) Notification means a notification published in the Official Gazette and the expression “notify” shall be construed accordingly

Omitted vide Companies (Amendment) Act, 2017 dated 03.01.2018 effective from 09.02.2018. To view the notification,Click Here

2(81) Securities means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956)

2(82) Securities and Exchange Board means the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992)

Commencement Notification dated 09.02.2018

Enforcement notification S.O.2754 (E) dated 12/09/2013

The Companies (Amendment) Act, 2017 (Effective from 03.01.2018)