{"act":{"id":"finance-act-2021","short_title":"The Finance Act, 2021","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2021-2022.","act_number":null,"act_year":2021,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":180,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2021/"},"unit":"section","section":{"number":"159","heading":"Amendment of Act 15 of 1992","text":"PART VIII AMENDMENT TO THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 Amendment of Act 15 of 1992. 159. In the Securities and Exchange Board of India Act, 1992, in section 12, after sub-section (1B), the following sub-section shall be inserted with effect from the 1st day of April, 2021, namely:–– \"(1C) No person shall sponsor or cause to be sponsored or carry on or cause to be carried on the activity of an alternative investment fund or a business trust as defined in clause (13A) of section 2 of the Income-tax Act, 1961 (43 of 1961), unless a certificate of registration is granted by the Board in accordance with the regulations made under this Act.\".","html":"<p>PART VIII</p><p>AMENDMENT TO THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992</p><p><b>Amendment of Act 15 of 1992.</b></p><p><b>159. </b>In the Securities and Exchange Board of India Act, 1992, in section 12, after sub-section (<i>1B</i>), the following sub-section shall be inserted with effect from the 1st day of April, 2021, namely:––</p><p>\"(<i>1C</i>) No person shall sponsor or cause to be sponsored or carry on or cause to be carried on the activity of an alternative investment fund or a business trust as defined in clause (<i>13A</i>) of section 2 of the Income-tax Act, 1961 (43 of 1961), unless a certificate of registration is granted by the Board in accordance with the regulations made under this Act.\".</p>","words":117,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2021/section/159/","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."}