Section 18A
Contracts in derivatives.
The Securities Contracts (Regulation) Act, 1956
About this Act
An Act to prevent undesirable transactions in securities by regulating the business of dealing therein, by providing for certain other matters connected therewith.
1[18A. Contracts in derivatives.--Notwithstanding anything contained in any other law for the lime
being in force, contracts in derivative shall be legal and valid if such contracts are--
(a) traded on a recognised stock exchange;
(b) settled on the clearing house of the recognised 2[stock exchange; or] in accordance with the rules and bye-laws of such stock exchange.]
3[(c) between such parties and on such terms as the Central Government may, by notification in the Official Gazette, specify.]
(a) traded on a recognised stock exchange;
(b) settled on the clearing house of the recognised 2[stock exchange; or] in accordance with the rules and bye-laws of such stock exchange.]
3[(c) between such parties and on such terms as the Central Government may, by notification in the Official Gazette, specify.]
Notes
1. Ins. by Act 31 of 1999, s. 3 (w.e.f. 22-2-2000).
2. Subs. by Act 20 of 2015, s. 134, for "stock exchange ," (w.e.f. 14-5-2015)
3. Ins. by Act 20 of 2015, s. 134 (w.e.f. 14-5-2015)
2. Subs. by Act 20 of 2015, s. 134, for "stock exchange ," (w.e.f. 14-5-2015)
3. Ins. by Act 20 of 2015, s. 134 (w.e.f. 14-5-2015)