Securities Contracts (Regulation) Act,1956

Act No : 42

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Section : Protection of action taken in good faith.

29.Protection of action taken in good faith. No suit, prosecution or other legal proceeding whatsoever shall lie in any Court against the governing body or any member, office bearer or servant of any recognised stock exchange or against any person or persons appointed under sub-section (1) of section 11 for anything which is in good faith done or intended to be done in pursuance of this Act or of any rules or bye-laws made thereunder. ["29A. Power to delegate. The Central Government may, by order published in the Official Gazette, direct that the powers exercisable by it under any provision of that Act small, in relation to such matters and subject to such conditions, if any as may be specified in the order be exercisable also by the Securities and Exchange Board of India."]

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