{"act":{"id":"finance-act-2019-no-2","short_title":"The Finance Act, 2019 (No. 2)","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2019-2020.","act_number":null,"act_year":2019,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":217,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/"},"unit":"section","section":{"number":"182","heading":"Amendment of section 14","text":"Amendment of section 14 182. In the Securities and Exchange Board of India Act, 1992 (15 of 1992) (hereafter in this Part referred to as the principal Act), in section 14,— (i) | in sub-section (2), after clause (c), the following clause shall be inserted, namely:— \"(d) the capital expenditure, as per annual capital expenditure plan approved by the Board and the Central Government.\"; (ii) | after sub-section (2), the following sub-sections shall be inserted, namely:— \"(3) The Board shall constitute a Reserve Fund and twenty-five per cent. of the annual surplus of the General Fund in any year shall be credited to such Reserve Fund and such fund shall not exceed the total of annual expenditure of preceding two financial years. (4) After incurring all the expenses referred to in sub-section (2) and transfer to Reserve Fund as specified in sub-section (3), the surplus of the General Fund shall be transferred to the Consolidated Fund of India.\".","html":"<p><b><b>Amendment of section 14</b></b></p><p><b><b>182</b>. </b>In the Securities and Exchange Board of India Act, 1992 (15 of 1992) (hereafter in this Part referred to as the principal Act), in section 14,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (<i>2</i>), after clause (<i>c</i>), the following clause shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(<i>d</i>) the capital expenditure, as per annual capital expenditure plan approved by the Board and the Central Government.\";</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>after sub-section (<i>2</i>), the following sub-sections shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(<i>3</i>) The Board shall constitute a Reserve Fund and twenty-five per cent. of the annual surplus of the General Fund in any year shall be credited to such Reserve Fund and such fund shall not exceed the total of annual expenditure of preceding two financial years.</td></tr><tr><td></td><td></td><td>(<i>4</i>) After incurring all the expenses referred to in sub-section (<i>2</i>) and transfer to Reserve Fund as specified in sub-section (<i>3</i>), the surplus of the General Fund shall be transferred to the Consolidated Fund of India.\".</td></tr></table></div>","words":158,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/182/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}