Securities Laws (Amendment) Act, 1999 Section 3 - Bare Act |
| State | Central Government |
| Year | 1999 |
| Section Title | Insertion of New Section 18a |
After section 18 of the principal Act, the following section shall be inserted, namely: --
"18A. Notwithstanding anything contained in any other law for the lime being in force, contracts in derivative shall be legal and valid if such contracts are--
(a) traded on a recognised stock exchange;
(b) settled on the clearing house of the recognised stock exchange, in accordance with the rules and bye-laws of such stock exchange.".