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Reserve Bank of India Act, 1934 (2 of 1934) Amending Act 1

Title: Reserve Bank of India (Amendment) Act, 2006

State: Central

Year: 1934

.....may, by notification in the Official Gazette, appoint; and different dates may be appointed for different provisions of this Act. 2. Amendment of section 17 In section 17 of the Reserve Bank of India Act, 1934(2 of 1934) (hereinafter referred to as the principal Act),-- (i) after clause (6), the following shall be inserted, namely:-- '(6A) dealing in derivatives, and, with the approval of the Central Board, in any other financial instrument. Explanation.--For the purposes of this clause, "derivative" means an instrument, to be settled at a future date, whose value is derived from change in one or a combination of more than one of the following underlyings, namely:-- (a) interest rate, (b) price of securities of the Central Government or a State Government or of such securities of a local authority as may be specified in this behalf by the Central Government, (c) price of foreign securities, (d) foreign exchange rate, (e) index of rates or prices, (f) credit rating or credit index, (g) price of gold or silver coins, or gold or silver bullion, or (h) any other variable of similar nature;'; (ii) after clause (12A), the following shall be inserted,.....

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Reserve Bank of India Act, 1934 (2 of 1934) Section 17

Title: Business Which the Bank May Transact

State: Central

Year: 1934

..... (10) the sale realisation of all property, whether movable or immovable, which may in any way come into the possession of the Bank in satisfaction, or part satisfaction, of any of its claims; (11) the acting as agent for 1 [***] the 2 [Central Government] 80 [or any 5 [State] Government 81 [***] or any local authority 82 [***] 83 [or the Industrial Finance Corporation of India 84 [***] 11 [or any other body corporate which is established or constituted by or under any other law] 10 [or the Government of any such country outside India or 85 [any such person or authority] is may be approved in this behalf by the Central Government] in the transaction of any of the following kinds of business, namely:- (a) the purchase and sale of gold or silver 86 [or foreign exchange]; (b) the purchase, sale, transfer and custody of bills of exchange, securities or shares in any company; (c) the collection of the proceeds, whether principal, interest or dividends, of any securities or shares; (d) the remittance of such proceeds, at the risk of the principal, by bills of exchange payable either in India or elsewhere; (e) the management of public debt; 87 [(f) 88 [***] the.....

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Reserve Bank of India Act, 1934 (2 of 1934) Section 45U

Title: Definitions

State: Central

Year: 1934

For the purposes of this Chapter,--. (a) "derivative" means an instrument, to be settled at a future date, whose value is derived from change in interest rate, foreign exchange rate, credit rating or credit index, price of securities (also called "underlying"), or a combination of more than one of them and includes interest rate swaps, forward rate agreements, foreign currency swaps, foreign currency-rupee swaps, foreign currency options, foreign currency-rupee options or such other instruments as may be specified by the Bank from time to time; (b) "money market instruments" include call or notice money, term money, repo, reverse repo, certificate of deposit, commercial usance bill, commercial paper and such other debt instrument of original or initial maturity up to one year as the Bank may specify from time to time; (c) "repo" means an instrument for borrowing funds by selling securities with an agreement to repurchase the securities on a mutually agreed future date at an agreed price which includes interest for the funds borrowed; (d) "reverse repo" means an instrument for lending funds by purchasing securities with an agreement to resell the securities on a mutually a

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Reserve Bank of India (Amendment) Act, 2006 Section 2

Title: Amendment of Section 17

State: Central

Year: 2006

In section 17 of the Reserve Bank of India Act, 1934(2 of 1934) (hereinafter referred to as the principal Act),-- (i) after clause (6), the following shall be inserted, namely:-- '(6A) dealing in derivatives, and, with the approval of the Central Board, in any other financial instrument. Explanation.--For the purposes of this clause, "derivative" means an instrument, to be settled at a future date, whose value is derived from change in one or a combination of more than one of the following underlyings, namely:-- (a) interest rate, (b) price of securities of the Central Government or a State Government or of such securities of a local authority as may be specified in this behalf by the Central Government, (c) price of foreign securities, (d) foreign exchange rate, (e) index of rates or prices, (f) credit rating or credit index, (g) price of gold or silver coins, or gold or silver bullion, or (h) any other variable of similar nature;'; (ii) after clause (12A), the following shall be inserted, namely:-- '(12AA) lending or borrowing of securities of the Central Government or a State Government or of such securities of a local authority as may be specified.....

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Reserve Bank of India (Amendment) Act, 2006 Section 4

Title: Insertion of New Chapter Iiid

State: Central

Year: 2006

.....repo", include corporate bonds and debentures. 45V. Transactions in derivatives.--(1) Notwithstanding anything contained in the Securities Contracts (Regulation) Act, 1956(42 of 1956) or any other law for the time being in force, transactions in such derivatives, as may be specified by the Bank from time to time, shall be valid, if at least one of the parties to the transaction is the Bank, a scheduled bank, or such other agency falling under the regulatory purview of the Bank under the Act, the Banking Regulation Act, 1949(10 of 1949), the Foreign Exchange Management Act, 1999(42 of 1999), or any other Act or instrument having the force of law, as may be specified by the Bank from time to time. (2) Transactions in such derivatives, as had been specified by the Bank from time to time, shall be deemed always to have been valid, as if the provisions of sub-section (1) were in force at all material times. 45W. Power to regulate transactions in derivatives, money market instruments, etc.--(1) The Bank may, in public interest, or to regulate the financial system of the country to its advantage, determine the policy relating to interest rates or interest rate products and give.....

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The Securities and Insurance Laws (Amendment and Validation) Act, 2010 No. 26 of 2010[20th August, 2010.] Complete Act

Title: The Securities and Insurance Laws (Amendment and Validation) Act, 2010 No. 26 of 2010[20th August, 2010.]

State: Central

Year: 2010

.....Development Authority and the Pension Fund Regulatory and Development Authority.". CHAPTER IIIAMENDMENT TO THE INSURANCE ACT, 1938 3. Amendment of section 2 of Act 4 of 1938. - In the Insurance Act, 1938, in section 2, after clause (11), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 9th day of April, 2010, namely:-'Explanation.- For the removal of doubts, it is hereby declared that "life insurance business" shall include any unit linked insurance policy or scrips or any such instrument or unit, by whatever name called, which provides a component of investment and a component of insurance issued by an insurer referred to in clause (9) of this section.'. CHAPTER IVAMENDMENT TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956 4. Amendment of section 2 of Act 42 of 1956. - In the Securities Contracts (Regulation) Act, 1956, in section 2, in clause (h), after sub-clause (id), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 9th day of April, 2010, namely:-'Explanation.- For the removal of doubts, it is hereby declared that "securities" shall not include any unit.....

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Insecticides Act, 1968 Section 36

Title: Power of Central Government to Make Rules

State: Central

Year: 1968

.....to the Insecticide Inspector under sub-section (1) of section 24; (q) the protective clothing and equipment to be used by workers during the manufacture, formulation, transport, distribution and application of insecticides and other facilities to be provided to keep themselves and things supplied to them free from any contamination; (r) the use by the workers of any such protective clothing, equipment and other facilities; (s) the precautions to be taken against poisoning through the use or handling of insecticides; (t) the measures for detecting and investigating cases in which poisoning has occurred; (u) the facilities to be provided for ensuring first-aid treatment; (v) the instruction and training to be provided regarding the use of things supplied to the workers for ensuring their safety; (w) the facilities for medical examination of workers engaged in the manufacture or handling of insecticides; 2 [(x) *****] (y) the equipment for, and method of, application of, an insecticide and the disposal of surplus material, washings and containers, following application; (z) the maintenance and inspection of records and returns; (za) the restrictions on.....

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