Section 16 - Power to prohibit contracts in certain cases. - Securities Contracts (Regulation) Act, 1956

Extract

Power to prohibit contracts in certain cases. 1 16. (1) If the Central Government is of opinion that it is necessary to prevent undesirable speculation in specified securities in any State or area, it may, by notification in the Official Gazette, declare that no person in the State or area specified in the notification shall, save with the permission of the Central Government, enter into any contract for the sale or purchase of any security specified in the notification except to the extent and in the manner, if any, specified therein. (2) All contracts in contravention of the provisions of sub-section (1) entered into after the date of notification issued thereunder shall be illegal. *********** 1 Powers are exercisable by SEBI also vide S. O. 573 (E), Dated 30-07-1992, published in the Gazette of India, Extra., Pt. II, Section 3 (ii), Dated 30-07-1992. Powers are exercisable by RBI also vide Government of India Notification No. 183 (E), Dated 01-03-2000 in relation to any contracts in government securities, money market securities etc.

LAD-NRO/GN/2013-14/26/6667 - Dated: 3-10-2013 - SEBI - Notification under Section 16 and 28 of Securities Contracts (Regulation) Act, 1956 - contracts for sale or purchase of securities or contracts in derivatives.
S.O. 2192(E) - Dated: 8-1-2010 - SEBI - To prevent undesirable speculation in securities in the whole of India.
S.O. No.314(E) - SEBI/LE/2096/03 - Dated: 25-3-2003 - SEBI - Order Under Section 11 of the Securities Contracts (Regulation) Act, 1956 Superseding the Governing Board of Ahmedabad Stock Exchange
S.O. No.184(E) - SEBI/LE/3650/2000 - Dated: 1-3-2000 - SEBI - 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.
File No. 1/55/SE/97-S.O. 186(E) - Dated: 1-3-2000 - SEBI - Central Government rescinds the notification of the Government of India in the Ministry of Finance
SO 573(E) - Dated: 30-7-1992 - SEBI - Notification under section 29A - Powers exercisable by Central Government delegated to SEBI