Section 41, Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 [S1X-20S]
As at 7 September 2026. In force from 25 May 1992.
41. Grant of licence.—(1) An application for a licence to undertake the business of an intermediary shall be made to the Board in Form A, accompanied by a fee of twenty-five thousand rupees. (2) The Board may, after making such inquiry as it thinks fit, grant the licence subject to such conditions as may be prescribed, or, for reasons to be recorded in writing, refuse to grant the licence. (3) A licence granted under this section shall be valid for a period of three years from the date of its grant and may be renewed in such manner as may be prescribed. (4) The Board may, after giving the licensee an opportunity of being heard, suspend or cancel a licence for contravention of any condition thereof.
Defined terms in this text (2)
Board: Section 2, Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 [S1X0S6] (In this Act, unless the context otherwise requires,—): "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)
Board: 279 more definitions.
intermediary: Section 2, Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 [S1X0S6] (In this Act, unless the context otherwise requires,—): "intermediary" means a person registered under section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992)
intermediary: 25 more definitions.
Made under this section, or naming it (0)
none
Cited by (1)
Section 40, Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 [S1X-1ZE], 25 May 1992, Band A. "section 41".
Not held (0)
none
Duties published under this section (0)
none