Centre rejected SEBI’s Proposal of Review

Published on July 20, 2019
Current context: The Finance Ministry has refused the plea of SEBI to amend the surplus fund transfer provision
Centre rejected SEBI’s Proposal of Review
  • SEBI has opposed the finance bill provision to transfer surplus funds to the Consolidated fund of India (CFI)
  • The finance Bill,2019 which will amend the SEBI Act has been passed by the Lok Sabha on 18th July 2019
  • The finance bill is a money bill, it means once passed by the Lok Sabha, it would become law unchanged even if the Rajya Sabha wants to amend it
  • SEBI chairman Ajay Tyagi has said it a premature step, as the issue is under discussion in the Financial Stability and Development Council
  • With the amendment, SEBI has to take the government’s approval for expanding its organisational capacity, IT infrastructure and other soft and physical infrastructure

Question: 

Q.1 The Finance bill consisting of the amendment of the SEBI Act is passed in the parliament as?
a. An ordinary Bill
b. Financial Bill
c. Money Bill
d. Constitutional Amendment Bill

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