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Securities Contracts (Regulation) Amendment Act, 2007 Preamble 1

Title: Securities Contracts (Regulation) Amendment Act, 2007

State: Central

Year: 2007

THE SECURITIES CONTRACTS (REGULATION) AMENDMENT ACT, 2007 [Act No. 27 of 2007] [28th May, 2007] PREAMBLE An Act further to amend the Securities Contracts (Regulation) Act, 1956. Be it enacted by Parliament in the Fifty-eighth Year of the Republic of India as follows:--

Securities Contracts (Regulation) Amendment Act, 2007 Complete Act

Title: Securities Contracts (Regulation) Amendment Act, 2007

State: Central

Year: 2007

Preamble1 - SECURITIES CONTRACTS (REGULATION) AMENDMENT ACT, 2007 Section1 - Short title Section2 - Amendment of section 2 Section3 - Insertion of new section 17A Section4 - Amendment of section 23 Section5 - Amendment of section 31

Securities Contracts (Regulation) Amendment Act, 2007 Section 3

Title: Insertion of New Section 17a

State: Central

Year: 2007

After section 17 of the principal Act, the following section shall be inserted, namely; -- "17A. Public issue and listing of securities referred to in sub-clause (ie) if clause(h) of section 2 (1) Without prejudice to the provisions contained in this Act or any . other law for the time being in force, no securities of the nature referred to in subclause (ie) of clause (h) of section 2 shall be offered to the public or listed on any recognised stock exchange unless the issuer fulfils such eligibility criteria and complies with such other requirements as may be specified by regulations made by the Securities and Exchange Board of India. (2) Every issuer referred to in sub-clause (ie) of clause (h) of section 2 intending to offer the certificates or instruments referred therein to the public shall make an application, before issuing the offer document to the public, to one or more recognised stock exchanges for permission for such certificates or instruments to be listed on the stock exchange or each such stock exchange. (3) Where the permission applied for under sub-section (2) for listing has not been granted or refused by the recognised stock exchanges or any of them, the.....

Securities Contracts (Regulation) Amendment Act, 2007 Section 1

Title: Short Title

State: Central

Year: 2007

This Act may be called the Securities Contracts (Regulation) Amendment Act, 2007.

Securities Contracts (Regulation) Amendment Act, 2007 Section 2

Title: Amendment of Section 2

State: Central

Year: 2007

In section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereinafter referred to as the principal Act), in clause (h), after sub-clause (id), the following sub-clause shall be inserted, namely:-- "(ie) any certificate or instrument (by whatever name called), issued to an investor by any issuer being a special purpose distinct entity which possesses any debt or receivable, including mortgage debt, assigned to such entity, and acknowledging beneficial interest of such investor in such debt or receivable, including mortgage debt, as the case may be;".

Securities Contracts (Regulation) Amendment Act, 2007 Section 4

Title: Amendment of Section 23

State: Central

Year: 2007

In section 23 of the principal Act, in sub-section (1), in clause (c), for the word and figures "section 17", the words, figures and letter "section 17 or section 17A" shall be substituted.

Securities Contracts (Regulation) Amendment Act, 2007 Section 5

Title: Amendment of Section 31

State: Central

Year: 2007

In section 31 of the principal Act, for sub-section (2), the following sub-section shall be substituted, namely:-- "(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:-- (a) the manner, in which at least fifty-one per cent. of equity share capital of a recognised stock exchange is held within twelve months from the date of publication of the order under sub-section (7) of section 4B by the public other than the shareholders having trading rights under sub-section (8) of that section; (b) the eligibility criteria and other requirements under section 17A.".

Warehousing (Development and Regulation) Act 2007 Section 10

Title: Lien of Warehouseman on Good

State: Central

Year: 2007

.....of the sale shall be published in a leading newspaper having circulation in the locality where, the sale is to be held as well as where the owner of the goods is located and the sale shall be held not less than fourteen days from the date of first publication of the advertisement. (9) The warehouseman shall, from the proceeds of the sale, satisfy his lien and shall pay over the surplus, if any, to the person entitled thereto. (10) If the surplus is not demanded by the person entitled thereto within ten days after the sale of goods or if there are different claims, the warehouseman shall seek instructions from the Authority and act as per the orders of the Authority.

Warehousing (Development and Regulation) Act, 2007 Complete Act

State: Central

Year: 2007

.....for any loss, destruction, damage or deterioration of the goods delivered to him for storage attributable to circumstances such as force majeure, act of war, act of public enemies and the like. Section 7 Duties of warehousemen (1) In the absence of a lawful excuse, a warehouseman shall deliver the goods referred to in a negotiable receipt, to the holder of the receipt on demand made by the holder and on the holder fulfilling all the following conditions, namely:- (a) satisfying the warehouse lien; (b) surrendering the receipt in case of non-negotiable receipt and surrendering the receipt with endorsements in case of negotiable receipt; and (c) acknowledging in writing the receipt of the goods.- (2) If a warehouseman refuses or fails to deliver the goods in compliance with the provisions of this section, the burden of proof shall lie on the warehouseman to establish the existence of a lawful excuse for the refusal or failure. Section 8 Duties of warehouseman to keep records and account of warehouse business (1) Every warehouseman shall keep in a place of safety a complete and accurate set of records and accounts of all transactions pertaining to the operation of a.....

Warehousing (Development and Regulation) Act 2007 Chapter III

Title: Warehousemen

State: Central

Year: 2007

.....of the sale shall be published in a leading newspaper having circulation in the locality where, the sale is to be held as well as where the owner of the goods is located and the sale shall be held not less than fourteen days from the date of first publication of the advertisement. (9) The warehouseman shall, from the proceeds of the sale, satisfy his lien and shall pay over the surplus, if any, to the person entitled thereto. (10) If the surplus is not demanded by the person entitled thereto within ten days after the sale of goods or if there are different claims, the warehouseman shall seek instructions from the Authority and act as per the orders of the Authority.