Securities Markets Code | Rewrite from scratch existing laws to form new legislation
The big question is whether the new securities market code will merely combine the multifarious provisions into one place with minor fine-tuning, or whether there will be a thorough revamp to reflect current and future challenges
Jayant Thakur
February 04, 2021 / 02:49 PM IST
Finance Minister Nirmala Sitharaman in her Budget Speech announced the proposal to consolidate the multiple laws governing securities markets into a single Securities Markets Code. The proposal is long overdue, but the announcement is cryptic.
Other than saying that these laws will be consolidated into a “rationalised, single” code, nothing further has been stated. The big question is whether the new code will merely combine the multifarious provisions into one place with minor fine tuning, or whether one can read far more into the word ‘rationalised’.