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of <h1>Section 13 Empowers Government to Declare Certain Securities Contracts Illegal to Regulate Transactions and Ensure Compliance</h1> Section 13 of the Securities Contracts (Regulation) Act, 1956, empowers the Central Government to declare contracts in securities illegal in specified areas if deemed necessary due to the nature or volume of transactions. Such contracts, made outside recognized stock exchanges or not involving their members, are deemed illegal post-notification. However, contracts between members of recognized stock exchanges across different areas are permitted, subject to terms and conditions approved by the Securities and Exchange Board of India (SEBI) and may require prior permission from the exchanges involved. This provision aims to regulate securities transactions and ensure compliance with recognized exchange standards.
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