EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 395] NEW DELHI, THURSDAY, SEPTEMBER 8,1983/BHADRA 17,1905
Separate Paging is g i v en to this P a rt in o r d er th at it m ay be f i l ed as A s e p a r a te
compilation
2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART 11—SEC 3(ii)]MINISTRY OF FINANCE
(Department of Economic Affairs)
Stock Exchange Division
NOTIFICATION
New Delhi, the 8th September, .1983
S.O. 645(E).—Whereas the Central Govern- ment has received a request in writing from the Bangalore Stock Exchange Ltd., Bangalore that the bye-laws made by it may be amended.
Now, therefore, in exercise of the powers con- ferred by sub-section (1) of section 10 of the Secu- rities Contracts (Regulation) Act, 1956 (42 of 1956). the Central Government hereby makes the amendments to the bye-laws of the Bangalore Stock Exchange Ltd., Bangalore specified 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 debenture without delay, hereby dis- penses with the condilioh of previous publication of the said amendments to the bye-laws.
(1) in the heading of. clause (a) ot Bye-law 120, the words "and debentures" ap- pearing 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 delet- ed.
(5) in Bye-law 121, the words "and bearer securities" appearing in line 1, shall be deleted.
(6) in Bye-law 122, the words "and bearer securities" appearing in lines 2 and 4, shall be deleted.
(7) in clause (b) of Bye-law 123, the words "and debentures" appearing in line 5 shall be deleted.
(8) the existing clause (b) of Bye-law 126 shall be reclassified as clause (d) of that Bye-law and after clause (a) of the said Bye-law 126, the following new clauses shall be inserted, namely ;—
"Deduction from Cum-interest Purchase Price of Debentures or Bonds.
Cb) in respect of cum-interest transaction in debentures|bends the buyer shall deduct from the purchase price the interest on gross basis provided the securities are delivered to him by the seller 'ess than five days before the record date or the date of clo- sure of the Transfer Books of the debentures'bonds for the purpose of payment of interest;
(c) in respect of transaction in deben- turesjbonds entered into on a cum- interest-basis but settled after the debenturesiboncls become ex-interest in the market due to the inability of the seller to deliver to the buyer the debenturesfbonds in time, the buyer shall deduct from the pur- chase price the interest on a. gross basis."
(9) in clause (a) of Bye-law 129, the words "and debentures'" appearing in line 2, shall be deleted.