Central Government amends the notification of the Government of India, Ministry of Finance - File No. 1/55/SE/97-S.O. 183(E) - SEBI

MINISTRY OF FINANCE (Department of Economic Affairs) (CAPITAL MARKETS AND EXTERNAL COMMERCIAL BORROWINGS DIVISION) NOTIFICATION New Delhi, the 1st March, 2000 S.O. 183(E).- In exercise of powers conferred by section 29A of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Central Government hereby amends the notification of the Government of India, Ministry of Finance (Department of Economic Affairs), number S.O. 573 (E), dated the 30th July, 1992, as follows, namely:- Provided the powers exercisable by the Central Government under the said section 16 of the said Act, in relation to any contracts in Government securities, money market securities, gold related securities and in securities derived from these securities and in relation to ready forward contracts in bonds, debentures, debenture stock, securitised debt and other debt securities shall also be exercisable by the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act. 1934 (2 of 1934): Provided further that such contracts entered into on the recognised stock exchanges 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 Regulation 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 notification issued by the Reserve Bank of India under the Securities Contracts (Regulation) Act, 1956 (42 of1956). [File No. 1/55/SE/97] Dr. J. BHAGWATI, Jt. Secy.