Rule 8 amendment expands exemption scope to specified corporations by revising provisos and cross references under the securities contracts rules framework. The 2017 amendment to the Securities Contracts (Regulation) Rules, 1957 modifies rule 8: it omits the first proviso in sub rule (1)(f), substitutes the second proviso to exempt corporations, bodies corporate, companies or institutions referred to in clauses (a) to (n) of sub rule (8), and replaces the cross reference in sub rule (3)(f)(iii) from 'items (a) to (n) of the proviso to sub rule (4)' to 'clauses (a) to (n) of sub rule (8)'; the rules take effect on publication in the Official Gazette.
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Rule 8 amendment expands exemption scope to specified corporations by revising provisos and cross references under the securities contracts rules framework.
The 2017 amendment to the Securities Contracts (Regulation) Rules, 1957 modifies rule 8: it omits the first proviso in sub rule (1)(f), substitutes the second proviso to exempt corporations, bodies corporate, companies or institutions referred to in clauses (a) to (n) of sub rule (8), and replaces the cross reference in sub rule (3)(f)(iii) from "items (a) to (n) of the proviso to sub rule (4)" to "clauses (a) to (n) of sub rule (8)"; the rules take effect on publication in the Official Gazette.
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