Securities Contracts (Regulation) Act, 1956 · Contracts and options in securities
Section 19: Stock exchanges other than recognised stock exchanges prohibited
(1) No person shall, except with the permission of the Central Government, organise or assist in organising or be a member of any stock exchange (other than a recognised stock exchange) for the purpose of assisting in, entering into or performing any contracts in securities.
(2) This section shall come into force in any State or area on such date as the Central Government may, by notification in the Official Gazette, appoint.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 19
No Supreme Court judgment in our database cites this section yet.