The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 183] NEW DELHI, MONDAY, APRIL 18, 1983/CHAITRA 28, 1905
Separate Paging is given to this Part in order that it may be filed as a separate
compilation
2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC 3(ii)]MINISTRY OF FINANCE
(Department of Economic Affairi)
(Stock r-xchjnge Division)
NOTIFICATION
New Delhi, the 19th April, 19S3
S.O 319(F). --Whereas the Central Government has le- ceh'ed a request in writing from the governing body of the Stixk Kxcrrangc Bomba> that the bvc-laws made by it may be amended
Now, therefore, in exercise of the powers conferred by sub-section (1) of section 10 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Central Govern- ment hereby make" the amendments to the bye-laws of the Stock Exchange, Bombay, speciiicd in the Schedule below, and in pursuance of the proviso to sub-section (4) of that section, the Central Government, in the interest of the trade, and with a view to promoting the development of a healthy market in debentures without delay hereby dispense^ with the condition of previous publication of the said amendments to the bye-laws.
SCHEDULE
In the bye-laws of the Stock Exchange, Bombay,—
(1) in the heading of clause (a) of Bye-law 120, the words "and debentures" appearing in line 1, shall be deleted.
(2) in clause, (a. )of Bye-law 120, the words "and bearer or registered debentures" appearing in lines 1 and 2, shall be deleted.
(3) the proviso to clause (a) of Bye-law 120, shall be deleted.
(4) in the heading of Bye-law 121, the words "and Bearer Securities" shall be deleted.
(5) in Bye-law 121, the words "and bearer securities"
appearing in line 1, shall be delted.
(6) In Bye-law 122, the words "and bearer securities" appearing In line 2 and 4, shall, be deleted.
<7) in clause (a) of Bye-law 123, the words "and debentures" appearing in line 2, shall be deleted.
(8) in clause (a) of Bye-law 129, the words "and debentures" appearing in line 2, shall bo deleted
(9) in clause (b) of Bye-law 129, the words "and debentures" appearing in lines 4 and 5 shall be deleted.
(KM the existing clause (b) of Bye-law 126 shall be le-ciassified as clause (d) of that Bye-law and aftei clause (a) of the said Bye-law 126, the followine new clauses shall be inserted, namely :—-
"Deduction from Cum-intcresl Purchase Price of Dbentures or Bonds
(b) In respect of cunvinterest tiansactlon in debentures/ bonds the buyer shall deduct from the purchase price the inteiest on gross basis provided the securities are delivered lo him by the sellci less than five days before the record date or the date of closure of the Transfer Books of tho deben- tures/bonds for the purpose of payment of interest.
(c) In respect of transactions in debentures /bonds enter- ed into on a oum-interest-basis but settled after the deben- tures/bonds become ex-interest in the market due to the in- ability of tho seller to deliver to the buyer the dbentures/ bonds in time, th^; buyei shall deduct from the purchase price the interest on a gross basis'
fR No. 2/1O/SE/821 N. K. SENGUPTA, Tt Sety