Section 3 in The Securities And Exchange Board Of India (Amendment) Act, 2002
3. Amendment of section 4.-
In section 4 of the principal Act,-(a) in sub- section (1),-(i)in clause (b),-(A)for the word" Ministries", the word" Ministry" shall be substituted;(B)for the words" and Law", the words and figures" and administration of the Companies Act, 1956 (1 of 1956 )" shall be substituted;(ii)in clause (c), for the words and figures" the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934 )", the words" the Reserve Bank" shall be substituted;(iii)for clause (d), the following clause shall be substituted, namely:-" (d) five other members of whom at least three shall be the whole- time members,";(b)in sub- section (4), for the words" Reserve Bank of India", the words" Reserve Bank" shall be substituted.
