Commodity derivatives definition expanded, clarifying delivery contracts, transferability and inclusion of repo and reverse repo under securities law. Amendment adds commodity derivatives, repo and reverse repo to the Securities Contracts Act, defines 'goods' and 'commodity derivative' (delivery contracts and contracts for differences tied to notified underlying goods and indices), establishes 'ready delivery contract' and excludes contracts settled by net monetary realisation from that category, and creates and distinguishes 'specific delivery contract', 'non-transferable specific delivery contract' and 'transferable specific delivery contract' with transferability subject to Central Government notification; commencement of the Part is by government notification with potentially different dates for different provisions.
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Commodity derivatives definition expanded, clarifying delivery contracts, transferability and inclusion of repo and reverse repo under securities law.
Amendment adds commodity derivatives, repo and reverse repo to the Securities Contracts Act, defines "goods" and "commodity derivative" (delivery contracts and contracts for differences tied to notified underlying goods and indices), establishes "ready delivery contract" and excludes contracts settled by net monetary realisation from that category, and creates and distinguishes "specific delivery contract", "non-transferable specific delivery contract" and "transferable specific delivery contract" with transferability subject to Central Government notification; commencement of the Part is by government notification with potentially different dates for different provisions.
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