Amendment of section 9A.
141. In section 9A of the Indian Stamp Act, 1899 (2 of 1899) (hereafter in this Part referred to as the Stamp Act), in sub-section (2), the following proviso shall be inserted, namely:––
“Provided that no such duty shall be chargeable in respect of the instruments of transaction in stock exchanges and depositories established in any International Financial Services Centre set up under section 18 of the Special Economic Zones Act, 2005. (28 of 2005)”.
Notes on Clauses:
Clauses 140 to 142 of the Bill seeks to amend the Indian Stamp Act, 1899, so as to––
(a) insert a proviso in sub-section (2) of section 9A of the said Act to provide exemption from stamp-duty in respect of instruments of transaction in stock exchanges and depositories established in any International Financial Services Centre set up under section 18 of the Special Economic Zones Act, 2005;
(b) insert a new section 73B in the said Act so as to empower the Central Government to issue directions and also to authorise the Securities and Exchange Board of India or the Reserve Bank of India to issue instructions, circulars and guidelines, retrospectively, for carrying out the provisions of Part AA of Chapter II of that Act.
