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Start Free TrialForward Contracts (Regulation) Act, 1952 Section 21
Title: Penalty for Owning or Keeping Place Used for Entering into Forward Contracts in Goods
State: Central
Year: 1952
.....or with both; (ii) for a second or subsequent offence, with imprisonment which may extend to two years and also with fine: Provided that in the absence of special and adequate reasons to the contrary to be mentioned in the judgment of the Court, the imprisonment shall not be less than one month and the fine shall not be less than [one thousand rupees]. _______________________________ 1. Inserted in clause (g) by the Forward Contracts (Regulation) Amendment Act 1960 (62 of 1960), Section 18 (28-12-1960). 2. Inserted after clause (g) by the Forward Contracts (Regulation) Amendment Act 1960 (62 of 1960), Section 18 (28-12-1960). 3. Substituted for "shall, on conviction, be punishable with imprisonment which may extend to two years, or with fine, or with both" by the Forward Contracts (Regulation) Amendment Act 1960 (62 of 1960), Section 18 (28-12-1960).
View Complete Act List Judgments citing this sectionForward Contracts (Regulation) Act, 1952 Chapter IV
Title: Forward Contracts and Options in Goods
State: Central
Year: 1952
.....goods entered into in pursuance of sub-section (1) which is in contravention of any of the bye-laws specified in this behalf under clause (a) of sub-section (3) of section 11 shall be void-- (i) as respects the rights of any member of the recognised association who has entered into contract in contravention of any, such bye-law, and also (ii) as respects the rights of any other person who has knowingly participated in the transaction entailing such contravention. (3) Nothing in sub-section (2) shall affect the right of any person other than a member of the recognised association to enforce any such contract or to recover any sum under or in respect of such contract: Provided that such person had no knowledge that such transaction was in contravention of any of the bye-laws specified under clause (a) of sub-section (3) of section 11. 1[(3A) Any forward contract in goods entered into in pursuance of sub-section (1), which at the date of the contract is in contravention of any of the bye-laws specified in this behalf under clause (aa) of sub-section (3) of section 11 shall be illegal.] (4) No member of a recognised association shall, in respect of any goods specified in.....
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Complete Act
Title: Securities Contracts Regulation Act, 1956 (42 of 1956)
State: Central
Year: 1956
.....stock exchange to make rules restricting voting rights, etc. Section8 - Power of Central Government to direct rules to be made or to make rules Section8A - Clearing corporation Section9 - Power of recognised stock exchanges to make byelaws Section10 - Power of Central Government to make or amend byelaws of recognised stock exchanges Section11 - Power of Central Government to supersede governing body of a recognised stock exchange Section12 - Power to suspend business of recognised stock exchanges Section12A - Power to issue directions Section13 - Contracts in notified areas illegal in certain circumstances Section13A - Additional trading floor Section14 - Contracts in notified areas to be void in certain circumstances Section15 - Members may not act as principals in certain circumstances Section16 - Power to prohibit contracts in certain cases Section17 - Licensing of dealers in securities in certain areas Section17A - Public issue and listing of securities referred to in sub-clause (ie) of clause (h) of section 2 Section18 - Exclusion of spot delivery contracts from Sections. 13, 14, 15 and 17 Section18A - Contracts in derivatives Section19 - Stock.....
List Judgments citing this sectionBombay Forward Contracts Control Act, 1947, (Maharashtra) Section 10
Title: Penalty for Owing or Keeping Place Used for Entering into Forward Contracts in Contravention of Act, Etc.
State: Maharashtra
Year: 1947
.....used for the purpose of entering into or making or performing in whole or in part forward contracts in goods specified in the notification under sub-section (3) of section 1 and knowingly permits such place to be used for such purposes; or (2) without the permission of the Provincial Government organises, or assists in organising or becomes an member of any association, other than a recognised association, established for the purpose of assisting in entering into or making or performing in whole or in part forward contracts such goods; or (3) manages, controls or assists in keeping any place, other than that of a recognised association, which is used for the purpose of entering into or making or performing in whole or in part forward contracts in such goods or at which such contracts are recorded or adjusted or rights or liabilities arising out of such contracts or options are adjusted, regulated or enforced in any manner whatsoever; or (4) not being a member of a recognised association wilfully represents to or induces any person to believe that he is a member of a recognised association or that a forward contract can be entered into or made or performed in whole or in.....
View Complete Act List Judgments citing this sectionForward Contracts (Regulation) Act, 1952 Section 18
Title: Special Provisions Respecting Certain Kinds of Forward Contracts
State: Central
Year: 1952
.....specific delivery contract by any party thereto without having to make or to receive actual delivery to or from the other party to the contract or to or from any other party named in the contract. (2) Where in respect of any area the provisions of Section 15 have been made applicable in relation to forward contracts for the sale or purchase of any goods or class of goods, the Central Government may, by a like notification, declare that in the said area or any part thereof as may be specified in the notification all or any of the provisions of Chapter III or Chapter IV shall not apply to transferable specific delivery contracts for the sale or purchase of the said goods or class of goods either generally, or to any class of such contracts in particular. (3) Notwithstanding anything contained in sub-section (1), the Central Government is of opinion that in the interest of the trade or in the public interest it is expedient to regulate and control non-transferable specific delivery contracts in any area, it may, by notification in the Official Gazette, declare that all or any of the provisions of Chapters III and IV shall apply to such class or classes of.....
View Complete Act List Judgments citing this sectionForward Contracts (Regulation) Act, 1952 Complete Act
Title: Forward Contracts (Regulation) Act, 1952
State: Central
Year: 1952
.....Central Government to make or amend bye-laws of recognised associations Section12A - Application of amendment of bye-laws to existing forward contracts Section12B - Power of Commission to suspend member of recognised association or to prohibit him from trading Section13 - Power of Central Government to supersede governing body of recognised association Section14 - Power to suspend business of recognised association ChapterIIIA - REGISTERED ASSOCIATIONS Section14A - Certificate of registration to be obtained by all associations Section14B - Grant or refusal of certificate of registration Section14C - Application of section 8 and 12-B to registered association Chapter IV Section15 - Forward contracts in notified goods illegal or void in certain circumstances Section16 - Consequences of notification under section 15 Section17 - Power to prohibit forward contracts in certain cases Section18 - Special provisions respecting certain kinds of forward contracts Section19 - Prohibition of options in goods Chapter V Section20 - Penalties Section21 - Penalty for owning or keeping place used for entering into forward contracts in goods Section21A - Power of Court to order.....
List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Amending Act 1
Title: Securities Contracts (Regulation) Amendment Act, 1959
State: Central
Year: 1956
.....to have been validly made, notwithstanding anything to the contrary contained in the Companies Act, 1956 (1 of 1956.).". 3. Substitution of new section for section 28.- For section 28 of the principal Act, the following section shall be substituted, namely:--- "28. Act not to apply in certain cases.- (1) The provisions of this Act shall not apply to--- (a) the Government, the Reserve Bank of India, any local authority or any corporation set up by a special law or any person who has effected any transaction with or through the agency of any such authority as is referred to in this clause; (b) any convertible bond or share warrant or any option or right in relation thereto, in so far as it entitles the person in whose favour any of the foregoing has been issued to obtain at his option from the company or other body corporate issuing the same or from any of its shareholders or duly appointed agents shares of the company or other body corporate whether by conversion of the bond or warrant or otherwise, on the basis of the price agreed upon when the same was issued. (2) Without prejudice to the provisions contained in sub-section (1), if the Central Government is.....
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Amending Act 2
Title: Securities Contracts (Regulation) Amendment Act, 1985
State: Central
Year: 1956
..... 2. Insertion of new section 22A In the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereinafter referred to as the principal Act), after section 22, the following section shall be inserted, namely:- 22A. Free transfer ability and registration of transfers of listed securities of companies (1) In this section, unless the context otherwise requires,- (a) "company" means a company whose securities are listed on a recognised stock exchange; (b) "security" means security of a company, being a security listed on a recognised stock exchange but not being a security which is not fully paid up or on which the company has a lien; (c) all other words and expressions used in this section and not defined in this Act but defined in the Companies Act, 1956 ( 1 of 1956) shall have the same meanings as are assigned to them in that Act. (2) Subject to the provisions of this section, securities of companies shall be freely transferable. (3) Notwithstanding anything contained in its articles or in section 82 or section 111 of the Companies Act, 1956, (1 of1956) but subject to the other provisions of this section, a company may refuse to register the transfer of.....
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Section 18
Title: Exclusion of Spot Delivery Contracts from Sections. 13, 14, 15 and 17
State: Central
Year: 1956
(1) Nothing contained in sections 13, 14,15 and 17 shall apply to spot delivery contracts. (2) Notwithstanding anything contained in sub-section (1), if the Central Government is of opinion that in the interest of the trade or in the public interest it is expedient to regulate and control the business of delaying in spot delivery contracts also in any State or area (whether section 13 has been declared to apply to the State or area or not), it may, by notification in the Official Gazette, declare that the provisions of section 17 shall also apply to such State or area in respect of spot delivery contracts generally or in respect of spot delivery contracts for the sale or purchase of such securities as may be specified in the notification, and may also specify the manner in which, and the extent to which, the provisions of that section shall so apply.
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Amending Act 6
Title: The Securities Contracts (Regulation) Amendment Act, 2007
State: Central
Year: 1956
.....apply to the listing of the securities of the nature referred to in sub-clause (ie) of clause (h) of section 2 by the issuer, being a special purpose distinct entity. 4. Amendment of section 23 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. 5. Amendment of section 31 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.".
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