Question

SEBI is an _______.

• A. Advisory body
• B. Statutory body
• C. Constitutional body
• D. Non-statutory body

Answer 1

Answer: (B)

Statutory body

The Securities and Exchange Beard of India (SEBI) is regulatory authority established under the SEBI Act, 1992 in order to protect the interests of the investors in securities as well as promote the development of the Capital Market. It is a Statutory Body.

A Statutory Body is a non-constitutional body set up by the Parliament. They are authorised to pass the law and take decisions on behalf of the state or country. They have the official permission for Legislation, i.e. passing laws.