interest in securities; (ha) "specific delivery contract" means a commodity derivative which provides for the actual delivery of specific qualities or types of goods during ... names of both the buyer and the seller are mentioned; (i) “spot delivery contract” means a contract which provides for, (a) actual delivery of securities
Securities Contracts (Regulation) Act, 1956
18. Exclusion of spot delivery contracts from sections 13, 14, 15 and 17.
(1) Nothing contained in sections ... shall apply to spot delivery contracts. (2) Notwithstanding anything contained in sub-section (1), if the Central Government is of opinion that in the interest
purchase of securities other than spot delivery contract or contract for cash or hand delivery or special delivery in any securities as is permissible under ... used is " contracts for cash or hand delivery or special delivery apart from spot delivery contracts". Therefore, it is clear that the notification
said sale would be completed by the method of spot delivery contract as per the rules and regulations and bye-laws of the Calcutta Stock ... sale, but the actual sale is spot delivery. Mr. Gupta has further submitted that " cash delivery contracts " do not come within the purview
Contracts (Regulation) Act thus :
"spot delivery contract" means a contract which provides for the actual delivery of securities and the payment ... shares and stocks, namely, (1) spot delivery contract, i.e., a contract which provides for the actual delivery of securities on the payment
within the
definition of “spot delivery contract”.
Mr. Sunil Gupta, further submits that the contract in
question is a spot delivery contract and, therefore, does ... otherwise requires, -
x x x
(i) “spot delivery contract” means a contract which
provides for –
(a) actual delivery of securities and the
payment
within the
definition of “spot delivery contract”.
Mr. Sunil Gupta, further submits that the contract in
question is a spot delivery contract and, therefore, does ... otherwise requires, -
x x x
(i) “spot delivery contract” means a contract which
provides for –
(a) actual delivery of securities and the
payment
prohibited forward contracts and permitted contracts for
the sale or purchase of securities, interalia so long as such
contracts qualified as spot delivery contracts ... purchase of
securities other than, spot spot delivery contracts or
contracts for cash or hand delivery or contract in
derivatives as is permissible under
definition of
"spot delivery contract".
36. According to the definition, a contract providing for actual
delivery of securities and the payment of price ... SCRA, a spot delivery contract has been
defined to mean a contract which provides for actual delivery of
securities and the payment of a price
Regulation) Act thus :
" 'Spot delivery contract' means a contract which provides for the actual delivery of securities and the payment ... shares and stocks, namely, (1) spot delivery contract, i.e., a contract which provides for the actual delivery of securities on the payment
