Necessary to prevent undesirable speculation in securities in the whole of India any contracts for sale or purchase of government securities, gold related securities, money market securities and ready forward contracts in debt securities entered into on the recognised stock exchange. - S.O. No.184(E) - SEBI/LE/3650/2000 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 1st March, 2000 S.O.184(E).- In exercise of the powers conferred by sub-section (1) of section 16 of the Securities Contracts Regulation) Act, 1956 (42 of 1956), read with Government of India notification no. S.O. 573(E) dated 30th July, 1992 and notification no. 183 (E) dated 1st March , 2000 issued under section 29A of the said Act, the Securities and exchange Board of India (hereinafter referred to as 'the Board') being of the opinion that it is necessary to prevent undesirable speculation in securities in the whole of India, hereby declare that no person in the territory to which the said Act extends, shall, save with the permission of the board, enter into any contract for sale or purchase of securities other than such spot delivery contract or contract for cash or hand delivery or special delivery or contract in derivatives as is permissible under the said Act or the Securities and Exchange Board of India Act, 1992 (15 of 1992) and the rules and regulations made under such Acts and rules, regulations and bye-laws of a recognised stock exchange : Provided that any contracts for sale or purchase of government securities, gold related securities, money market securities and ready forward contracts in debt securities entered into on the recognised stock exchange shall be entered into in accordance with,- (a) the rules or regulations or the bye-laws made under the Securities Contracts (Regulation) Act, 1956 (42 of 1956), or the Securities and Exchange Board of India Act, 1992 (15 of 1992) or the directions issued by the Securities and Exchange Board of India under the said Acts; (b) the rules made or guidelines or directions issued under the Reserve Bank of India Act, 1934 (2 of 1934) or the Banking Regulations Act, 1949(10 of 1949) or the Foreign Exchange Regulation Act, 1973 (46 of 1973) by the Reserve Bank of India; (c) the provisions contained in the notifications issued by the Reserve Bank of India under the Securities Contracts (Regulation) Act, 1956 (42 of 1956). [F. No. SEBI/LE/3650/2000] D. R. MEHTA, Chairman