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Start Free TrialSecurities Laws (Amendment) Act, 1999 Complete Act
Title: Securities Laws (Amendment) Act, 1999
State: Central
Year: 1999
Preamble1 - SECURITIES LAWS (AMENDMENT) ACT, 1999 Section1 - Short title and Commencement Section2 - Amendment of section 2 Section3 - Insertion of new section 18A Section4 - Amendment of section 21 Section5 - Amendment of section 22 Section6 - Amendment of section 23 Section7 - Amendment of section 24 Section8 - Insertion of new section 27A Section9 - Substitution of new section for section 29A Section10 - Amendment of section 30 Section11 - Amendment of Act 15 of 1992
List Judgments citing this sectionSecurities Laws (Amendment) Act, 1999 Preamble 1
Title: Securities Laws (Amendment) Act, 1999
State: Central
Year: 1999
T HE SECURITIES LAWS (AMENDMENT ) ACT, 19991 [Act, No . 31 of 1999]1 [16 th December, 1999 ]1 PREAMBLE An Act further to amend the Securities Contracts (Regulation) Act, 1956 and the Securities and Exchange B oard of India Act, 1992 . B e it enacted by Parliament in the Fiftieth Year of the Republic of India as follows:-- ________________________ 1. Assented by the President on 16th December, 1999, published in the Gazette of India, Extraordinary, Part II, Section 1, dated 16th December, 1999.
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 1999 Section 8
Title: Insertion of New Section 27a
State: Central
Year: 1999
After section 27 of the principal Act, the following section shall be inserted, namely:-- "27A. Right to receive income from collective investment scheme. -- (1) It shall be lawful for the holder of any securities, being units or other instruments issued by the collective investment scheme, whose name appears on the books of the collective investment scheme issuing the said security to receive and retain any income in respect of units or other instruments issued by the collective investment scheme declared by the collective investment scheme in respect thereof for any year, notwithstanding that the said security, being units or other instruments issued by the collective investment scheme, has already been transferred by him for consideration, unless the transferee who claims the income in respect of units or other instruments issued by the collective investment scheme from the transfer or has lodged the security and all other documents relating to the transfer which may be required by the collective investment scheme with the collective investment scheme for being registered in his name within fifteen days of the date on which the income in respect of units or other.....
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 1999 Section 2
Title: Amendment of Section 2
State: Central
Year: 1999
In section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereinafter referred to as the principal Act), -- (a) after clause (a), the following clause shall be inserted, namely:--(aa) "derivative" includes-- (A) a security derived from a debt instrument, share, loan, whether secured or unsecured, risk instrument or contract for differences or any other form of security; (B) a contact which derives its value from the prices, or index of prices, of underlying securities; (b) in clause (h), after sub-clause (i), the following sub-clauses shall be inserted, namely:-- "(ia) derivative; (ib) units or any other instrument issued by any collective investment scheme to the investors in such schemes;"
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 1999 Section 1
Title: Short Title and Commencement
State: Central
Year: 1999
(1) This Act may be called the Securities Laws (Amendment) Act, 1999. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 1999 Section 9
Title: Substitution of New Section for Section 29a
State: Central
Year: 1999
For section 29A of the principal Act, the following section shall be substituted, namely:-- "29A. power to delegate.-- The Central Government may, by order published in the Official Gazette, direct that the powers (except the power under section 30) exercisable by it under any provision of this Act shall, in relation to such matters and subject to such conditions, if any, as may be specified in the order, be exercisable also by the Securities and Exchange Board of India or the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934.".
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 1999 Section 10
Title: Amendment of Section 30
State: Central
Year: 1999
In section 30 of the principal Act, in sub-section (2), for clause (h), the following clause shall be substituted, namely:-- "(h) the requirements which shall be complied with-- (A) by public companies for the purpose of getting their securities listed on any stock exchange; (B) by collective investment scheme for the purpose of getting their units listed on any stock exchange;".
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 1999 Section 11
Title: Amendment of Act 15 of 1992
State: Central
Year: 1999
In the Securities and Exchange Board of India Act, 1992,-- (i) in section 2, in sub-section (1), after clause (b), the following clause shall be inserted, namely:-- '(ba) "collective investment scheme" means any scheme or arrangement which satisfies the conditions specified in section 11AA;'; (ii) after section 11A, the following section shall be inserted, namely:-- "11AA. Collective investment scheme. -- (1) Any scheme or arrangement which satisfies the conditions referred to in sub-section (2) shall be a collective investment scheme. (2) Any scheme or arrangement made or offered by any company under which, -- (i) the contributions, or payments made by the investors, by whatever name called, are pooled and utilized for the purposes of the scheme or arrangement; (ii) the contributions or payments arc made to such scheme or arrangement by the investors with a view to receive profits, income, produce or property, whether movable or immovable, from such scheme or arrangement; (iii) the property, contribution or investment forming part of scheme or arrangement, whether identifiable or not, is managed on behalf of the investors; (iv) the investors do not have.....
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 1999 Section 6
Title: Amendment of Section 23
State: Central
Year: 1999
In section 23 of the principal Act, in sub-section (1), after clause (c), the following clause shall be inserted, namely:-- "(d) enters into any contract in derivative in contravention of section 18A or the rules made under section 30.".
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 1999 Section 7
Title: Amendment of Section 24
State: Central
Year: 1999
In section 24 of the principal Act, after sub-section (2), in the Explanation, for sub-clause (b), the following sub-clause shall be substituted, namely: -- '(b) ''director", in relation to-- (i) a firm, means a partner in the firm; (ii) any association of persons or a body of individuals, means any member controlling the affairs thereof.'.
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