MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 20th March, 2017
G.S.R. 268(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 as Securities Contracts (Regulation) Amendment Rules, 2017.
(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) the proviso to clause (iii) of sub-rule (4) shall be omitted;
b) after sub-rule (7), the following sub-rule shall be inserted, namely:‑
“(8) Where the Securities and Exchange Board of India makes a recommendation, the governing body of a stock exchange shall, admit as member the following corporations, bodies corporate, companies or institutions, namely :‑
(a) the Industrial Finance Corporation, established under the Industrial Finance Corporation Act, 1948 (15 of 1948);
(b) the Industrial Development Bank of India, established under the Industrial Development Bank Act, 1964 (18 of 1964);
(c) any insurance company granted registration by the Insurance Regulatory Development Authority under the Insurance Act, 1938 (4 of 1938);
(d) the Unit Trust of India, established under the Unit Trust of India Act, 1963 (52 of 1963);
(e) the Industrial Credit and Investment Corporation of India, a company registered under the Companies Act, 1956 (1 of 1956);
(f) the subsidiaries of any of the corporations or companies specified in clauses (a) to (e) and any subsidiary of the State Bank of India or any nationalised bank set up for providing merchant banking services, buying and selling securities and other similar activities;
(g) any bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934);
(h) the Export Import Bank of India, established under the Export Import Bank of India Act, 1981 (28 of 1981);
(i) the National Bank for Agriculture and Rural Development, established under the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981);
(j) the National Housing Bank, established under the National Housing Bank Act, 1987 (53 of 1987);
(k) Central Board of Trustees, Employees’ Provident Fund, established under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952);
(l) any pension fund registered or appointed or regulated by the Pension Fund Regulatory and Development Authority under the Pension Fund Regulatory And Development Authority Act, 2013 (23 of 2013);
(m) any Standalone Primary Dealers authorised by the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (2 of 1934); and
(n) Category I and Category II foreign portfolio investors registered under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014:
Provided that such foreign portfolio investors shall engage only in proprietary trades in such class of securities as may be specifically permitted for them by the Securities and Exchange Board of India.”.
[F. No. 1/13/SM/2016]
PRAVEEN GARG, Jt. Secy.
Note : The principal rules were published in the Gazette of India, Part II, Section 3 vide Notification number S.R.O. 576, dated the 21st February, 1957 and subsequently amended vide notification numbers as under‑
(1) G.S.R 1096, dated the 14th July, 1967;
(2) G.S.R. 685, dated the 3rd June, 1972;
(3) G.S.R. 959, dated the 8th August, 1972;
(4) G.S.R. 2641, dated the 1st November, 1975;
(5) G.S.R. 1083, dated the 11th November, 1985;
(6) G.S.R. 666(E), dated the 20th July, 1987;
(7) G.S.R. 1070(E), dated the 15th November, 1988;
(8) G.S.R. 870(E), dated the 13th November, 1992;
(9) G.S.R. 617(E), dated the 20th September, 1993;
(10) G.S.R. 749(E), dated the 12th October, 1994;
(11)G.S.R. 790(E), dated the 7th November, 1994;
(12) G.S.R. 121(E), dated the 9th March, 1995;
(13) G.S.R. 291(E), dated the 27th March, 1995;
(14) G.S.R. 581(E), dated the 23rd December, 1996;
(15) G.S.R. 654(E), dated the 8th August, 2000;
(16) G.S.R. 655(E), dated the 8th August, 2000;
(17) G.S.R. 415(E), dated the 7th June, 2001;
(18) G.S.R. 696(E), dated the 28th August, 2003;
(19) G.S.R. 395(E), dated the 10th June, 2009;
(20) G.S.R. 469(E), dated the 4th June, 2010;
(21) G.S.R. 662(E), dated the 9th August, 2010;
(22) G.S.R. 705(E), dated the 24th October, 2013;
(23) G.S.R. 21(E), dated the 16th January, 2014;
(24) G.S.R. 611(E), dated the 22nd August, 2014;
(25) G.S.R. 682(E), dated the 19th September, 2014;
(26) GSR. 819(E), dated the 18th November, 2014; and;
