Reserve Bank authority over specified securities contracts expanded, with concurrent compliance obligations under SEBI and RBI frameworks. The amendment delegates to the Reserve Bank of India the Central Government's powers under section 16 of the Securities Contracts (Regulation) Act for contracts in government securities, money market securities, gold-related securities, securities derived therefrom, and ready forward contracts in bonds, debentures, debenture stock, securitised debt and other debt securities; such contracts on recognised stock exchanges must comply with rules and directions issued under the Securities Contracts (Regulation) Act and SEBI Act, with rules/guidelines/directions issued by the Reserve Bank under its enabling statutes, and with RBI notifications under the Securities Contracts (Regulation) Act.
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Provisions expressly mentioned in the judgment/order text.
Reserve Bank authority over specified securities contracts expanded, with concurrent compliance obligations under SEBI and RBI frameworks.
The amendment delegates to the Reserve Bank of India the Central Government's powers under section 16 of the Securities Contracts (Regulation) Act for contracts in government securities, money market securities, gold-related securities, securities derived therefrom, and ready forward contracts in bonds, debentures, debenture stock, securitised debt and other debt securities; such contracts on recognised stock exchanges must comply with rules and directions issued under the Securities Contracts (Regulation) Act and SEBI Act, with rules/guidelines/directions issued by the Reserve Bank under its enabling statutes, and with RBI notifications under the Securities Contracts (Regulation) Act.
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