{"act":{"id":"finance-act-2023","short_title":"The Finance Act, 2023","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2023-2024.","act_number":"8","act_year":2023,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":181,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2023/"},"unit":"section","section":{"number":"167","heading":"Amendment of Act 42 of 1956","text":"PART III AMENDMENT TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956 Amendment of Act 42 of 1956. 167.  In the Securities Contracts (Regulation) Act, 1956, in section 18A, after clause (b), the following clause shall be inserted, namely:— '(ba) regulated by the International Financial Services Centres Authority established under section 4 of the International Financial Services Centres Authority Act, 2019 (50 of 2019), in an International Financial Services Centre and issued by a Foreign Portfolio Investor. Explanation.—For the purposes of this clause, the expression \"Foreign Portfolio Investor\" shall have the meaning assigned to it in clause (u) of rule 2 of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 made under section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999);'.","html":"<p><b><i>PART III</i></b></p><p><b>AMENDMENT TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956</b></p><p><b>Amendment of Act 42 of 1956.</b></p><p><b>167. </b> In the Securities Contracts (Regulation) Act, 1956, in section 18A, after clause (<i>b</i>), the following clause shall be inserted, namely:—</p><p>'(<i>ba</i>) regulated by the International Financial Services Centres Authority established under section 4 of the International Financial Services Centres Authority Act, 2019 (50 of 2019), in an International Financial Services Centre and issued by a Foreign Portfolio Investor.</p><p><i>Explanation</i>.—For the purposes of this clause, the expression \"Foreign Portfolio Investor\" shall have the meaning assigned to it in clause (<i>u</i>) of rule 2 of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 made under section 46 of the Foreign Exchange Management Act, 1999 (42 of 1999);'.</p>","words":122,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/167/","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."}