Q. Consider the following statements:
1.Constitutional bodies can only be created or changed by passing a regular, government or Private bill.
2.Central Bureau of Investigation (CBI) is a statutory body
3.Securities and Exchange Board of India (SEBI) is a statutory body that regulates both the securities and commodity market in India.
Which of the statements given above is/are incorrect?
Answer: B
Notes:
In India, a constitutional body is a body or institute established by the Constitution of India. They can only be created or changed by passing a Constitution amendment bill, rather than by a regular, government or private bill.
The Securities and Exchange Board of India is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance, Government of India. It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.
The CBI is not a statutory body although it derives its powers from the Delhi Special Police Establishment (DSPE) Act, 1946, which was passed in British India.
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