{"act":{"id":"finance-act-2021","short_title":"The Finance Act, 2021","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2021-2022.","act_number":null,"act_year":2021,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":180,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2021/"},"unit":"section","section":{"number":"148","heading":"Amendment of section 2","text":"Amendment of section 2. 148. In the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this Part referred to as the principal Act), in section 2,–– (i) | after clause (d), the following clause shall be inserted, namely:–– '(da) \"pooled investment vehicle\" means a fund established in India in the form of a trust or otherwise, such as mutual fund, alternative investment fund, collective investment scheme or a business trust as defined in sub-section (13A) of section 2 of the Income-tax Act, 1961 (43 of 1961) and registered with the Securities and Exchange Board of India, or such other fund, which raises or collects monies from investors and invests such funds in accordance with such regulations as may be made by the Securities and Exchange Board of India in this behalf;'; (ii) | in clause (h),–– (a) | in sub-clause (i), for the words \"other body corporate\", the words \"or a pooled investment vehicle or other body corporate\" shall be substituted; (b) | after sub-clause (id), the following sub-clause shall be inserted, namely:–– \"(ida) units or any other instrument issued by any pooled investment vehicle;\".","html":"<p><b>Amendment of section 2.</b></p><p><b>148. </b>In the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this Part referred to as the principal Act), in section 2,––</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>after clause (<i>d</i>), the following clause shall be inserted, namely:––</td></tr><tr><td></td><td></td><td>'(<i>da</i>) \"pooled investment vehicle\" means a fund established in India in the form of a trust or otherwise, such as mutual fund, alternative investment fund, collective investment scheme or a business trust as defined in sub-section (<i>13A</i>) of section 2 of the Income-tax Act, 1961 (43 of 1961) and registered with the Securities and Exchange Board of India, or such other fund, which raises or collects monies from investors and invests such funds in accordance with such regulations as may be made by the Securities and Exchange Board of India in this behalf;';</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in clause (<i>h</i>),––</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-clause (<i>i</i>), for the words \"other body corporate\", the words \"or a pooled investment vehicle or other body corporate\" shall be substituted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>after sub-clause (<i>id</i>), the following sub-clause shall be inserted, namely:––</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td></td><td></td><td>\"(<i>ida</i>) units or any other instrument issued by any pooled investment vehicle;\".</td></tr></table></div>","words":187,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2021/section/148/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}