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The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No, 171] NEW DELHI, THURSDAY, MAY 22, 1975/JYAISTHA 1, 1897

Separate paging is given to this Part in order that it may be filed as a separate compilation

MINISTRY OF FINANCE

(Department of Economic Affairs)

(Office of the Controller of Capital Issues)

NOTIFICATION

New Delhi, (he 22nd May 1975

S.O. 222(E).—In exercise of the powers conferred by sub-section (1) of Section 6 of the Capital Issues (Control) Act, 1947 (29 of 1947), the Central Government hereby makes the following Order further to amend the Capital issues (Exemption) Order, 1969, namely:— 1. (1) This Order may be called the Capital Issues (Exemption) (Amendment) Order, 1975.

(2) It shall come into force on the date of its publication in the Official Gazette. 2. In the Capital Issues (Exemption) Order, 1969,

(a) in clause 4, in sub-clause (iv), the following Explanation shall be inserted at the end, namely:—

"Explanation,—In this sub-clause, "debentures" include any debentures which are, at the option of the holders, convertible into equity capital of the issuing company by virtue of a condition contained in the issue of such debentures to any institution specified in the said sub-clause;"(b) in clause 9, in sub-clause (iii), after the words "conversion rights", the words, brackets, letters and figure, "other than those mentioned in sub-section (iv) of clause 4", shall be inserted. [No. F. 2(15)-CCI/72] R. M. BHANDARI, Jt. Secy (1243)