Govt Notifies Bullion Spot Delivery Contract As Security for Issuance & Trading in IFSCA

Govt notifies (i) bullion spot delivery contract; and (iii) bullion depository receipt with underlying bullion as securities for the purpose of Section 18 of the Securities Contracts (Regulation) Act, 1956 in respect of issuance and trading of such securities in an International Financial Services Centre under the International Financial Services Centres Authority Act, 2019.

MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 24th December, 2021

S.O. 5392(E).—In exercise of the powers conferred by sub-clause (iia) of clause (h) of section 2 and sub-section (2) of Section 18 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Central Government hereby declares the following financial products notified by the Government of India in the Ministry of Finance vide notification number S.O. 2957 (E), dated the 31^st August, 2020, as securities for the purpose of the said Act, in respect of issuance and trading of such securities in an International Financial Services Centre under the International Financial Services Centres Authority Act, 2019 (50 of 2019), namely:-

(i) bullion spot delivery contract; and

(iii) bullion depository receipt with underlying bullion.

ANAND MOHAN BAJAJ, Addl. Secy.