Section 16: Power to prohibit contracts in certain cases.

The Securities Contracts (Regulation) Act, 1956Central Act · Act 42 of 1956

(1) If the Central Government is of opinion that it is necessary to prevent undesirable speculations in specified securities in any State or area, it may, by notification in the Official Gazette, declare that no person in the State or area specified in the notification shall, save with the permission of the Central Government, enter into any contract for the sale or purchase of any security specified in the notification except to the extent and in the manner, if any, specified therein.

(2) All contracts in contravention of the provisions of sub-section (1) entered into after the date of the notification issued thereunder shall be illegal.

Where this provision sits

Act	The Securities Contracts (Regulation) Act, 1956
Section	16
Marginal note	Power to prohibit contracts in certain cases.
Jurisdiction	Central
Status	In force as published by the source

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