Delegation by Central Government of its powers and functions (Section 458 of the Companies Act, 2013) :

Section 458 of the Companies Act, 2013 provides for delegation of its powers and functions by Central Government. According to this section:

(i) The Central Government may, by notification, and subject to such conditions, limitations and restrictions as may be specified therein, delegate any of its powers or functions under this Act other than the power to make rules to such authority or officer as may be specified in the notification.

However, the powers to enforce the provisions contained in section 194 and section 195 relating to forward dealing and insider trading shall be delegated to SEBI for listed companies or the companies which intend to get their securities listed.

In such case, any officer authorised by the SEBI shall have the power to file a complaint in the court of competent jurisdiction.

(ii) A copy of every notification issued under point (i) shall, as soon as may be after it is issued, be laid before each House of Parliament.