Notification under Section 16 and 28 of Securities Contracts (Regulation) Act, 1956 - contracts for sale or purchase of securities or contracts in derivatives.

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....Section 16 and 28 of Securities Contracts (Regulation) Act, 1956 LAD-NRO/GN/2013-14/26/6667.- In exercise of the powers conferred by sub-section (2) of section 28 and sub-section (1) of section 16 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), read with Government of India notification number S.O. 573(E), dated the 30th July, 1992 issued under Section 29A of the said Act, the ....

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....s of a recognised stock exchange; (c) contracts for pre-emption including right of first refusal, or tag-along or drag-along rights contained in shareholders agreements or articles of association of companies or other body corporate; (d) contracts in shareholders agreements or articles of association of companies or other body corporate, for purchase or sale of securities pursuant to exercis....

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.... thereunder: Provided further that nothing contained in this notification shall affect or validate any contract which has been entered into prior to the date of this notification. Explanation.- It is hereby clarified that the contracts mentioned in clauses (c) and (d) above shall be valid notwithstanding anything contained in Section 18 A read with clause (d) of sub-section (1) o....