Section Text
Section 2 of the Securities Contracts (Regulation) Act, 1956.
1) of that sec. by the Adaptation of Laws Order, 1950.
(1) 4646. Words "The Collecting Government" subs, for the words "The Governor General in Council" by the Government of India (Adaptation of Indian Laws) Order, 1937. [The 4747. Word "Collecting" om. by the Adaptation of Laws Order, 1950. ** * Government] may, by rule or order published in the [Official Gazette], (a) reduce or remit, whether prospectively or retrospectively, in the whole or any part of 4949. Words subs, for the words "British India" by the Government of India (Adaptation of Indian Laws) Order, 1937. [the territories under its administration], the duties with which any instruments or any particular class of instruments, or any of the instruments belonging to such class, or any instruments when executed by or in favour of any particular class of persons, or by or in favour of any members of such class, are chargeable, and (b) provide for the composition or consolidation of duties in the case of issues by any incorporated company or other body corporate 5050. Words and brackets ins. by Act 32 of 1994. [or of transfers (where there is a single transferee, whether incorporated or not)] of debentures, bonds or other marketable securities. 5151. Sub-sec.
(2) ins. by the Adaptation of Laws Order, 1950.
(2) In this section the expression "the Government" means, (a) in relation to stamp-duty in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policies of insurance, transfer of shares, debentures, proxies and receipts, and in relation to any other stamp-duty chargeable under this Act and falling within entry 96 in List I in the Seventh Schedule to the Constitution, the Central Government;
(b) save as aforesaid, the State Government.