# Section 24 — SEBI's Regulatory Powers
## Core Provision
SEBI is empowered to administer those provisions under Chapter III and Chapter IV of the Companies Act, 2013 that pertain to:
1. Issue and transfer of securities; and
2. Non-payment of dividend.
## To Whom Does It Apply?
SEBI's powers under Sec 24 apply to:
- Listed companies; AND
- Companies that intend to get their securities listed on any recognized stock exchange in India.
## Why This Matters
Section 24 creates a dual regulatory architecture:
- For listed (or to-be-listed) entities → SEBI is the administrator.
- For unlisted companies → MCA / Registrar of Companies handles administration.
This allows SEBI to enforce investor protection norms (LODR Regulations, ICDR Regulations) on entities accessing public capital markets.
## Practical Takeaway
When a company files a prospectus or undertakes a transfer involving listed securities, compliance is checked under both Companies Act AND SEBI regulations — but SEBI has primary administrative jurisdiction.