Q. Consider the following: Banking Regulation Act Insurance Act Securities Contract Regulation Act Which among the following presents a correct set of years in which the above acts were legislated?
Answer: 1949, 1938, 1956
Notes: Insurance Act was enacted in 1938 while the Banking Regulation Act was enacted in 1949.The Securities Contract Regulation Act 1956 is another old legislation enacted at a time when derivatives were unknown and without an independent market regulator; which had to wait till 1992.

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