9911796707
|
Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Clause 162 - Insertion of new section 30A-Special provisions related to commodity derivatives - Finance Bill, 2015Extract Insertion of new section 30A. 162. After section 30 of the Securities Contracts Act, the following section shall be inserted, namely:- Special provisions related to commodity derivatives 30A. (1) Nothing contained in this Act shall apply to non-transferable specific delivery contracts: Provided that no person shall organise or assist in organising or be a member of any association in any area to which the provisions of section 13 have been made applicable (other than a stock exchange) which provides facilities for the performance of any non-transferable specific delivery contract by any party thereto without having to make or receive actual delivery to or from the other party to the contract or to or from any other party named in the contract. (2) Where in respect of any area, the provisions of section 13 have been made applicable in relation to commodity derivatives for the sale or purchase of any goods or class of goods, the Central Government may, by notification, declare that in the said area or any part thereof as may be specified in the notification all or any of the provisions of this Act shall not apply to transferable specific delivery contracts for the sale or purchase of the said goods or class of goods either generally, or to any class of such contracts in particular. (3) Notwithstanding anything contained in sub-section (1), if the Central Government is of the opinion that in the interest of the trade or in the public interest it is expedient to regulate and control non-transferable specific delivery contracts in any area, it may, by notification in the official Gazette, declare that all or any of the provisions of this Act shall apply to such class or classes of nontransferable specific delivery contracts in such area in respect of such goods or class of goods as may be specified in the notification, and may also specify the manner in which and the extent to which all or any of the said provisions shall so apply. .
|
