Title: Insider Trading and Market Manipulation Prevention Act, 1954
Preamble:
The objective of this Act is to curb insider trading and other manipulative market practices that undermine the integrity of the securities market. By establishing clear rules and stringent penalties, this Act ensures that all participants in the securities market operate on a level playing field, with access to the same public information.
CHAPTER 1: DEFINITIONS AND SCOPE
Section 1: Short Title, Extent, and Commencement
This Act shall be called the Insider Trading and Market Manipulation Prevention Act, 1954.
It extends to the entire territory of India and applies to all persons involved in the securities markets, including brokers, company officers, shareholders, and any individuals who may come into possession of non-public, price-sensitive information.
The Act shall come into force immediately upon its enactment.
