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Securities 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.....

Payment and Settlement Systems Act, 2007 Complete Act

State: Central

Year: 2007

PAYMENT AND SETTLEMENT SYSTEMS ACT, 2007 PAYMENT AND SETTLEMENT SYSTEMS ACT, 2007 51 OF 2007 An Act to provide for the regulation and supervision of payment systems in India and to designate the Reserve Bank of India as the authority for that purpose and for matters connected therewith or incidental thereto. Be it enacted by Parliament in the Fifty-eighth Year of the Republic of India as follows:- CHAPTER 1 : Preliminary SECTION 1 : Short title extent and commencement (1) This Act may be called the Payment and Settlement Systems Act, 2007. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act, and any reference to the commencement in any such provision of this Act shall be construed as a reference to the commencement of that provision. SECTION 2 : Definitions (1) In this Act, unless the context otherwise requires,- (a) "bank" means,- (i) a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934); (ii) a post office savings bank; (iii) a banking company.....

Payment and Settlement Systems Act 2007 Chapter VIII

Title: Miscellaneous

State: Central

Year: 2007

.....section, "defaulter" means any person or system provider or system participant on whom the Reserve Bank has imposed a penalty under section 30. Section 34 - Act not to apply to stock exchanges or clearing corporations of stock exchanges Nothing contained in this Act shall apply to stock exchanges or the clearing corporations of the stock exchanges. Section 35 - Certain persons deemed to be public servants Every officer of the Reserve Bank who has been entrusted with any power under this Act, shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code(45 of 1860). Section 36 - Protection of action taken in good faith No suit or other legal proceedings shall lie against the Central Government, the Reserve Bank, or any officer thereof for any damage caused or likely to be caused by anything which is in good faith done or intended to be done in pursuance of this Act, any regulations, order or direction made or given thereunder. Section 37 - Power of Reserve Bank to make regulations (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette,.....

Securities Contracts Regulation Act, 1956 (42 of 1956) Amending Act 4

Title: Securities Laws (Second Amendment) Act, 1999

State: Central

Year: 1956

.....LAWS (SECOND AMENDMENT) ACT, 1999 [Act, No. 32 of 1999] [16th December, 1999] PREAMBLE An Act further to amend the Securities Contracts (Regulation) Act, 1956, the Securities and Exchange Board of India Act, 1992 and the Depositories Act, 1996. Be it enacted by Parliament in the Fiftieth Year of the Republic of India as follows: - Chapter I Preliminary 1. Short title This Act may be called the Securities Laws (Second Amendment) Act, 1999. Chapter II Amendments To The Securities Contracts (Regulation) Act, 1956 2. Amendment of Section 2 In section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this Chapter referred to as the principal Act), after clause (g), the following clause shall be inserted, namely: -- '(ga) "Securities Appellate Tribunal" means a Securities Appellate Tribunal established under sub-section (1) of section 15K of the Securities and Exchange Board of India Act, 1992 (15 of 1992);'. 3. Insertion of new section 2A After section 2 of the principal Act, the following section shall be inserted, namely:-- "2A. Interpretation of certain words and expressions.-- Words and expressions used.....

Securities Contracts Regulation Act, 1956 (42 of 1956) Section 30

Title: Power to Makerules

State: Central

Year: 1956

.....exchange] 2[(ha) *******] 3["(ha) the grounds on which the securities of a company may be delisted from any recognised stock exchange under sub-Section (1) of Section 21A; (hb) the form in which an appeal may be filed before the Securities Appellate Tribunal under sub-Section (2) of Section 21A and the fees payable in respect of such appeal; (hc) the form in which an appeal may be filed before the Securities Appellate Tribunal under Section 22A and the fees payable in respect of such appeal; (hd) the manner of inquiry under sub-Section (1) of Section 23-I; (he) the form in which an appeal may be filed before the Securities Appellate Tribunal under Section 23L and the fees payable in respect of such appeal;"] (i) any other matter which is to be or may be prescribed. 4(3)" Every rule made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any.....

Companies Act, 1956 Section 2

Title: Definitions

State: Central

Year: 1956

.....as in the Depositories Act, 1996 (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);] (13) "director" includes any person occupying the position of director, by whatever name called; (14) "District Court" means the Principal Civil Court of original jurisdiction in a district, but does not include a High Court in the exercise of its ordinary original civil jurisdiction; 11 [(14A) "dividend" includes any interim dividend;] (15) "document" includes summons, notice, requisition, order, other legal process, and registers, whether issued, sent or kept in pursuance of this or any other Act or otherwise; 11 [(15A) "employees stock option" means the option given to the whole-time directors, officers or employees of a company, which gives such directors, officers or employees the benefit or right to purchase or subscribe at a future date, the securities offered by the company at a pre-determined price;] (16) "existing company" means an existing company as defined in section 3; (17) "financial year" means in relation to any body corporate, the period in respect of which.....

Securities 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.".

Companies Act, 1956 Part 1

Title: Preliminary

State: Central

Year: 1956

.....as in the Depositories Act, 1996 (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);] (13) "director" includes any person occupying the position of director, by whatever name called; (14) "District Court" means the Principal Civil Court of original jurisdiction in a district, but does not include a High Court in the exercise of its ordinary original civil jurisdiction; 11 [(14A) "dividend" includes any interim dividend;] (15) "document" includes summons, notice, requisition, order, other legal process, and registers, whether issued, sent or kept in pursuance of this or any other Act or otherwise; 11 [(15A) "employees stock option" means the option given to the whole-time directors, officers or employees of a company, which gives such directors, officers or employees the benefit or right to purchase or subscribe at a future date, the securities offered by the company at a pre-determined price;] (16) "existing company" means an existing company as defined in section 3; (17) "financial year" means in relation to any body corporate, the period in respect of which.....

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 Act, 1956 (42 of 1956) Section 17A

Title: Public Issue and Listing of Securities Referred to in Sub-clause (Ie) of Clause (H) of Section2

State: Central

Year: 1956

.....under the Negotiable Instruments Act, 1881(26 of 1881), shall be disregarded, and if the eighth day (as so reckoned) is itself such a public holiday, there shall for the said purposes be substituted the first day thereafter which is not a holiday. (4) All the provisions of this Act relating to listing of securities of a public company on a recognised stock exchange shall, mutatis mutandis, 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. _________________________________ 1. Inserted by The Securities Contracts (Regulation) Amendment Act, 2007, dated 28.05.2007