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Section 8B: Corporatisation and demutualisation schemes and related instruments not liable to duty.

The Indian Stamp Act, 1899Central Act · Act 2 of 1899

[8B. Corporatisation and demutualisation schemes and related instruments not liable to duty---Notwithstanding anything contained in this Act or any other law for the time being in force,--

(a) a scheme for corporatisation or demutualisation, or both of a recognised stock exchange; or

(b) any instrument, including an instrument of, or relating to, transfer of any property, business, asset whether movable or immovable, contract, right, liability and obligation, for the purpose of, or in connection with, the corporatisation or demutualisation, or both of a recognised stock exchange pursuant to a scheme,

as approved by the Securities and Exchange Board of India under sub-section (2) of section 4B of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), shall not be liable to duty under this Act or any other law for the time being in force.

Explanation.-- For the purposes of this section,--

(a) the expressions "corporatisation", "demutualisation" and "scheme" shall have the meanings respectively assigned to them in clauses (aa), (ab) and (ga) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);

(b) "Securities and Exchange Board of India" means the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992).]

Where this provision sits

ActThe Indian Stamp Act, 1899
Section8B
Marginal noteCorporatisation and demutualisation schemes and related instruments not liable to duty.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 18 of 2005. . Ins. by Act 18 of 2005, s.114 (w.e.f. 13-5-2005).

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