Demutualisation expands section 47 to cover transfers of membership rights for shares and trading or clearing rights under SEBI approved schemes. The amendment substitutes 'corporatisation' with 'demutualisation or corporatisation' in section 47 and adds a clause treating transfer of a capital asset consisting of a membership right by a member of a recognised stock exchange as a transfer made for acquisition of shares and trading or clearing rights acquired under a scheme for demutualisation or corporatisation approved by the Securities and Exchange Board of India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Demutualisation expands section 47 to cover transfers of membership rights for shares and trading or clearing rights under SEBI approved schemes.
The amendment substitutes "corporatisation" with "demutualisation or corporatisation" in section 47 and adds a clause treating transfer of a capital asset consisting of a membership right by a member of a recognised stock exchange as a transfer made for acquisition of shares and trading or clearing rights acquired under a scheme for demutualisation or corporatisation approved by the Securities and Exchange Board of India.
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