TMI BlogTo prevent undesirable speculation in securities in the whole of India.X X X X Extracts X X X X X X X X Extracts X X X X ..... ia, hereby declares that- (A) no person in the territory to which that Act extends, shall, enter into any- (1) contract for the sale or-purchase of Government securities, gold related securities and money market securities other than-spot delivery contracts or such other contracts traded on a recognized stock exchange, as is permissible under the said Act, rules and bye-laws of such stock exchange. (i) Provided that contracts may be entered into on when issued basis in such Government securities and in accordance with such terms and conditions, including the basis on which such contracts may be settled, as may be specified in this regard by the Reserve Bank of India by the following persons - (a) a scheduled commercial bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... maintaining Constituent Subsidiary General Ledger account with the Public Debt Office of the Reserve Bank of India. (iv) Provided further that no ready forward contracts may be entered into between a person maintaining Subsidiary General Ledger account with Public Debt Office of the Reserve Bank of India with another person maintaining a Gilt account with itself. (v) Provided further that all ready forward contracts shall be settled through Subsidiary General Ledger account or a Constituent Subsidiary General Ledger account maintained with the Public Debt Office of Reserve Bank of India, in accordance with the terms and conditions as may be specified by the Reserve Bank of India. (vi) Provided further that the outstanding ready for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k of India. (B) the contracts specified in clause (A) above, entered into on the recognized stock exchanges, shall be entered 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 India Act, 1934 (2 of 1934) or the Banking Regulation Act, 1949 (10 of 1949) or the Foreign Exchange Management Act, 1999 (42 of 1999) by the Reserve Bank of India; and (c) the provisions contained in the notifications issued by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er securities of a company or a body corporate constituted by or under a Central or State Act. whether constituting a charge on the assets of the company or body corporate or not, but does not include debt securities issued by Government or such other persons as may be specified by the Reserve Bank, security receipts and securitized debt instruments . VIII. security receipt means a security as defined in clause (zg) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002). IX. securitized debt instruments means securities of the nature referred to in sub-clause (ie) of clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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