PART III
AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956
(42 of 1956)
AMENDMENTS
1. In section 2, for clause (i), the following clause shall be
substituted, namely:-
`(i) "spot delivery contract" means a contract which
provides for -
(a) actual delivery of securities and the payment of a
price therefor either on the same day as the date of the
contract or on the next day, the actual periods taken for the
despatch of 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.'
2. Section 22A shall be omitted.
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