Central Government hereby declares ‘zero coupon zero principal instruments’ as securities for the purposes section 2(h)(iia) of the Securities Contracts (Regulation) Act, 1956 (SCRA, 1956)
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 15th July, 2022
S.O. 3210(E).—In exercise of the powers conferred by sub-clause (iia) of clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Central Government hereby declares “zero coupon zero principal instruments” as securities for the purposes of the said Act.
Explanation.–For the purpose of this notification, “zero coupon zero principal instrument” means an instrument issued by a Not for Profit Organisation which shall be registered with Social Stock Exchange segment of a recognised Stock Exchange in accordance with the regulations made by the Securities and Exchange Board of India.
[F. No. 1/16/SM/2021]
REETU JAIN, Economic Adviser
