Section 24 — Power of Securities and Exchange Board to regulate issue and transfer of securities,

etc.—(1) The provisions contained in this Chapter, Chapter IV and in section 127 shall,—
(a) in so far as they relate to —
(i) issue and transfer of securities; and

1. Subs. by Act 1 of 2018, s. 7, for “an officer of the company” (w.e.f. 9-2-2018).
2. Subs. by Act 21 of 2015, s. 6, for “under its common seal” (w.e.f. 29-5-2015).
3. The proviso ins. by s. 6, ibid. (w.e.f. 29-5-2015).
4. The words “and have the effect as if it were made under its common seal” omitted by s. 6, ibid. (w.e.f. 29-5-2015).
5. Ins. by Act 29 of 2020, s. 5, (w.e.f. 30-10-2023).

(ii) non-payment of dividend,
by listed companies or those companies which intend to get t heir securities listed on any recognised
stock exchange in India, except as provided under this Act, be administered by the Securities and
Exchange Board by making regulations in this behalf;
(b) in any other case, be administered by the Central Government.
Explanation.—For the removal of doubts, it is hereby declared that all powers relating to all other
matters relating to prospectus, return of allotment, redemption of preference shares and any other matter
specifically provided in this Act, shall be exer cised by the Central Government, the Tribunal or the
Registrar, as the case may be.
(2) The Securities and Exchange Board shall, in respect of matters specified in sub-section (1) and the
matters delegated to it under proviso to sub-section (1) of section 458, exercise the powers conferred upon
it under sub-sections (1), (2A), (3) and (4) of section 11, sections 11A, 11B and 11D of the Securities and