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MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION G.S.R 696(E). _____ In exercise of the powers conferred by section 30 of the �Securities Contracts (Regulation) Act, 1956, (42 of 1956), the Central Government hereby makes the following rules further to amend the Securities Contracts (Regulation) Rules 1957, namely :- 1 (1). These rules may be called the Securities Contracts (Regulation) Amendment ����Rules, 2003. (2)� They shall come into force on the date of
their publication in the Official Gazette. 2
In the
Securities Contracts (Regulation) Rules, 1957; in Rule 8, - (a)� in sub-rule (1), in
clause (f) � (i)�� after the words
�securities�, the words �or commodity derivatives� �shall be inserted; (ii)� for the proviso, the
following proviso shall be substituted, namely : - �Provided
that no member may conduct business in commodity derivatives, except by setting
up a separate company which shall comply with the regulatory requirements, such
as networth, capital adequacy, margins and exposure norms as may be specified by
the Forward Market Commission, from time to time: � Provided
further that nothing herein shall be applicable to any corporations, bodies
corporate, companies or institutions referred to in items (a) to (k) of the
proviso to sub-rule (4)�. (b)� in sub-rule (3), in
clause (f), � (i)�� after the words
�securities�, the words �or commodity derivatives�� shall be inserted; (ii)� for the item (iii), the following item shall be substituted,
namely : - �nothing herein shall affect members
of a recognized stock exchange which are corporations, bodies corporate,
companies or institutions referred to in items (a) to (k) of the proviso to
sub-rule (4).�; (c)������� in sub-rule (4), - (i)�� in the proviso, for the words �following corporations,� the
words �following corporations, bodies corporate� shall be substituted ; (ii)�
after item (g), the following items shall be inserted,
namely : - �(h)����� any bank included in the second schedule to the Reserve Bank
of India Act, 1934 (2 of 1934) : (i)�������� the Export Import Bank of (j)�������� the
National Bank for Agriculture and Rural Development, established under the
National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981)
and� (k)������� the National Housing Bank, established under the National
Housing Bank Act, 1987 (53 of 1987).� [ F. NO.1/55/SE/2001] Note : The �principal rules were issued under SRO No.
576 dated 21.2.1957 published in the Gazette of India, Extraordinary, part II,
Section 3, page 619 dated 21.2.1957 and were subsequently amended by the
amendment notification GSR 1096 dated 14.7.1967 published in the Gazette of
India II, Part II section 3, sub-section (i) w.e.f. 22.7.1967, GSR 685 dated
3.6.1972 published in the Gazette of India, Part II, section 3 sub section (i)
page 1556, GSR 959 dated 8.8.1972, GSR 2641 dated 1.11.1975, GSR 1083 dated
11.11.1985, GSR 1070 (E) dated 15.11.1988, GSR 666 (E) dated 20.7.1987, GSR 870
(E) dated 13.11.1992, GSR 617 (E) dated 20.9.1993 published in the Gazette of
India, Extraordinary, Part II, section 3, sub section (i) w.e.f. 20.9.1993, GSR
749 (E) dated 12.10.1994, published in the Gazette of India, Extraordinary,
Part II, section 3, sub section (i), GSR 790 (E) dated 7.11.1994, GSR 121 (E)
dated 9.3.1995, published in the Gazette of India Extraordinary, Part II,
section 3, sub section (i) w.e.f�
9.3.1995, GSR 291 (E) dated 27.3.1995, published in the Gazette of
India, Extraordinary, Part II, section 3, sub section (i), GSR 581 (E) dated
23.12.1996, published in the Gazette of India, Extraordinary, Part II, section
3, sub section (i), GSR No 654 (E) dated 8.8.2000, published in the Gazette of
India, Extraordinary, Part II, section 3, sub section (i) and GSR 415 (e) dated
7.6.2001 published in the Gazette of India, Extraordinary, Part II, section 3,
sub section (i). **************** |
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