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Section 45V: Transactions in derivatives.

The Reserve Bank of India Act, 1934Central Act · Act 2 of 1934

[45V. Transactions in derivatives.--(1) Notwithstanding anything contained in the Securities Contracts (Regulation) Act, 1956(42 of 1956) or any other law for the time being in force, transactions in such derivatives, as may be specified by the Bank from time to time, shall be valid, if at least one of the parties to the transaction is the Bank, a scheduled bank, or such other agency falling under the regulatory purview of the Bank under the Act, the Banking Regulation Act, 1949 (10 of 1949), the Foreign Exchange Management Act, 1999 (42 of 1999), or any other Act or instrument having the force of law, as may be specified by the Bank from time to time.

(2) Transactions in such derivatives, as had been specified by the Bank from time to time, shall be deemed always to have been valid, as if the provisions of sub-section (1) were in force at all material times.]

Where this provision sits

ActThe Reserve Bank of India Act, 1934
Section45V
Marginal noteTransactions in derivatives.
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 26 of 2006. . Ins. by Act 26 of 2006, s. 4 (w.e.f. 9-1-2007).

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