Securities And Exchange Board of India Act, 1992

Management of the Board .

4 . (1) The Board shall consist of the following members, namely:-

(a)	-	a Chairman;
(b)	-	two members from amongst the officials of the [Ministry] of the Central Government dealing with Finance [and administration of the Companies Act, 1956 (1 of 1956)];
(c)	-	one member from amongst the officials of [the Reserve Bank];
[(d)	-	five other members of whom at least three shall be the whole-time members,]

to be appointed by the Central Government.

(2) The general superintendence, direction and management of the affairs of the Board shall vest in a Board of members, which may exercise all powers and do all acts and things which may be exercised or done by the Board.

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