When was India’s Capital Issues (Control) Act, 1947 repealed?
Question and options
When was India’s Capital Issues (Control) Act, 1947 repealed?
May, 1992
May, 2002
May, 2012
May, 1988
Answer and explanation
Correct answer: A - May, 1992
The Capital Issues (Control) Repeal Act, 1992 repealed the 1947 Act with effect from 29 May 1992, when an ordinance first did so. This ended the Controller of Capital Issues regime of prior government approval and pricing of issues; regulation of public issues passed to SEBI. 1988 is the year SEBI was first set up as a non-statutory body.
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