Current context: The Finance Ministry has refused the plea of SEBI to amend the surplus fund transfer provision
a. An ordinary Bill
b. Financial Bill
c. Money Bill
d. Constitutional Amendment Bill
- 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
