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[Section 8]
[Entire Act]
Union of India - Subsection
Section 8(4) in Securities Contracts (Regulation) Rules, 1957
| Providedthat where the[Securities and Exchange Board of India] [Substituted for 'Central Government' by the Securities Contracts (Regulation) (Amendment) Rules, 1996, w.e.f. 23.12.1996]makes a recommendation in this regard, the governing body of a stock exchange shall, in relaxation of the requirements of this clause, admit as member the following corporations,[bodies corporate,] [Inserted by the Securities Contracts (Regulation) (Amendment) Rules, 2003, w.e.f. 28.08.2003.]companies or institutions, namely :-(a) the Industrial Finance Corporation, established under the Industrial Finance Corporation Act, 1948 (15 of 1948);(b) the Industrial Development Bank of India, established under the Industrial Development Bank Act, 1964 (18 of 1964);(c) [ any insurance company granted registration by the Insurance Regulatory Development Authority under the Insurance Act, 1938 (4 of 1938)] [Substituted for 'the Life Insurance Corporation of India, established under the Life Insurance Corporation Act, 1956 (31 of 1956)' by Securities Contracts (Regulation) (Amendment) Rules, 2014, w.e.f. 16.1.2014.](d)[* * *] [Omitted, by Securities Contracts (Regulation) (Amendment) Rules, 2014, w.e.f. 16.1.2014. Prior to its omission, item (d) read as under: 'the General Insurance Corporation of India constituted under the General Insurance Corporation (Nationalisation) Act, 1972 (57 of 1972).'](e) the Unit Trust of India, established under the Unit Trust of India Act, 1963 (52 of 1963);(f) the Industrial Credit and Investment Corporation of India, a company registered under the Companies Act, 1956 (1 of 1956);(g) the subsidiaries of any of the corporations or companies specified in (a) to (f) and any subsidiary of the State Bank of India or any nationalised bank set up for providing merchant banking services, buying and selling securities and other similar activities.(h) [ any bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934); [Inserted by Securities Contracts (Regulation) (Amendment) Rules, 2014, w.e.f. 16.1.2014. Prior to its omission, item (d) read as under: 'the General Insurance Corporation of India constituted under the General Insurance Corporation (Nationalisation) Act, 1972 (57 of 1972).'](i) the Export Import Bank of India, established under the Export Import Bank of India Act, 1981 (28 of 1981);(j) the National Bank for Agriculture and Rural Development, established under the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981); and(k) the National Housing Bank, established under the National Housing Bank Act, 1987 (53 of 1987).](l) [ Central Board of Trustees, Employees' Provident Fund, established under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952); [Inserted by Securities Contracts (Regulation) (Amendment) Rules, 2014, w.e.f. 16.1.2014.](m) any pension fund registered or appointed or regulated by the Pension Fund Regulatory and Development Authority under the Pension Fund Regulatory And Development Authority Act, 2013 (23 of 2013); and(n) any Standalone Primary Dealers authorised by the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (2 of 1934)] |