TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... erlying securities;] 4 [(C) commodity derivatives; and (D) such other instruments as may be declared by the Central Government to be derivatives;] (b) Government security means a security created and issued, whether before or after the commencement of this Act, by the Central Government or a State Government for the purpose of raising a public loan and having one of the forms specified in clause (2) of section 2 of the Public Debt Act, 1944 (18 of 1944); 5 [(bb) goods mean every kind of movable property other than actionable claims, money and securities; (bc) commodity derivative means a contract - (i) for the delivery of such goods, as may be notified by the Central Government in the Official Gazette, and which is not a ready delivery contract; or (ii) for differences, which derives its value from prices or indices of prices of such underlying goods or activities, services, rights, interests and events, as may be notified by the Central Government, in consultation with the Board, but does not include securities as referred to in sub-clauses (A) and (B) of clause (ac);] (c) member means a member of a recognised stock exchange; 6 [ (ca) non-tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xchange, includes, in the case of a stock exchange which is an incorporated association, its memorandum and articles of association; 8 [(ga) scheme means a scheme for corporatisation or demutualisation of a recognised stock exchange which may provide for- (i) the issue of shares for a lawful consideration and provision of trading rights in lieu of membership cards of members of a recognised stock exchange; (ii) the restrictions on voting rights; (iii) the transfer of property, business, assets, rights, liabilities, recognitions, contracts of the recognised stock exchange, legal proceedings by, or against, the recognised stock exchange, whether in the name of the recognised stock exchange or any trustee or otherwise and any permission given to, or by, the recognised stock exchange; (iv) the transfer of employees of a recognised stock exchange to another recognised stock exchange; (v) any other matter required for the purpose of, or in connection with, the corporatisation or demutualisation, as the case may be, of the recognised stock exchange;] 9 [ 10 [(gb)] Securities Appellate Tribunal means a Securities Appellate Tribunal established under sub-section ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the securities or the remittance of money therefor through the post being excluded from the computation of the period aforesaid if the parties to the contract do not reside in the same town or locality; (b) transfer of the securities by the depository from the account of a beneficial owner to the account of another beneficial owner when such securities are dealt with by a depository; ] 20 [ (j) stock exchange means (a) anybody of individuals, whether incorporated or not, constituted before corporatisation and demutualisation under sections 4A and 4B, or (b) a body corporate incorporated under the Companies Act, 1956 (1 of 1956) whether under a scheme of corporatisation and demutualisation or otherwise, for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities. ] 21 [(k) transferable specific delivery contract means a specific delivery contract which is not a non-transferable specific delivery contract and which is subject to such conditions relating to its transferability as the Central Government may by notification in the Official Gazette, specify in this behalf. ] ************** 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for all purposes as if the provisions of the said Acts, as amended by this Act, had been in force at all material times and accordingly, any unit linked insurance policy or scrips or any such instrument or unit, by whatever name called, issued or purported to have been issued at any time before the 9th day of April, 2010, shall be deemed and always deemed to have been validly issued and shall not be called in question in any court of law or other authority solely on the ground that it was issued without a certificate of registration under any law for the time being in force or without following any procedure under any law for the time being in force, by an insurer or any other person. 7. Repeal and savings.-(1) The Securities and Insurance Laws (Amendment and Validation) Ordinance, 2010 (Ord. 3 of 2010) is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the Reserve Bank of India Act, 1934 (2 of 1934) or the Insurance Act, 1938 (4 of 1938) or the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or the Securities and Exchange Board of India Act, 1992 (15 of 1992), as amended by the said Ordinance, shall be deemed to have been d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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