Clause 156 - Amendment of section 21. - FINANCE BILL, 2015

Amendment of section 21.

156. In section 45U of the Reserve Bank Act,--

(I) in clause (a),--

(i) the words and brackets ‘price of securities (also called “underlying”)’ shall be omitted;

(ii) after the words “such other instruments”, the words “not being a security” shall be inserted;

(II) in clause (b), after the words “such other debt instrument”, the words “which is not a security” shall be inserted;

(III) in clause (c), for the words “securities”, the words “corporate bonds and debentures” shall be substituted;

(IV) in clause (d), for the words “securities”, the words “corporate bonds and debentures” shall be substituted;

(V) in clause (e), the words ‘and, for the purposes of “repo” or “reverse repo” including corporate bonds and debentures’ shall be omitted.

 

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Notes on Clauses:

Clauses 155 to 157 of the Bill seeks to make further amendments in sections 21, 45U and 45W of the Reserve Bank of India Act, 1934.