Commencement and amendment of Act 42 of 1956

In force Act 20 of 2015 As on 07 Oct 2026

Act 20 of 2015 Ministry Finance

Section 133 of the Finance Act, 2015 deals with commencement and amendment of Act 42 of 1956. PART II AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION ) A CT, 1956 Commencement and amendment of Act 42 of 1956 133.

PART II
AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION ) A CT, 1956
Commencement and amendment of Act 42 of 1956
133. [A] The provisions of this Part shall come into force on such date as the Central Government may, by notification, appoint and different dates may be appointed for different provisions of this Part.
Amendment of section 2 - [B] In the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (herein referred to as the Securities Contracts Act), in section 2,—
(i) in clause (ac), after sub-clause (B), the following sub-clauses shall be inserted, namely:—
"(C) commodity derivatives; and
(D) such other instruments as may be declared by the Central Government to be derivatives;";
(ii) after clause (b), the following clauses shall be inserted, namely:—
'(bb) "goods" mean every kind of movable property other than actionable claims, money and securities;
(bc) "commodity derivative" means a contract -
(i) for the delivery of such goods, as may be notified by the Central Government in the Official Gazette, and which is not a ready delivery contract; or
(ii) for differences, which derives its value from prices or indices of prices of such underlying goods or activities, services, rights, interests and events, as may be notified by the Central Government, in consultation with the Board, but does not include securities as referred to in sub-clauses (A) and (B) of clause (ac);';
(iii) after clause (c), the following clause shall be inserted, namely:—
'(ca) "non-transferable specific delivery contract" means a specific delivery contract, the rights or liabilities under which or under any delivery order, railway receipt, bill of lading, warehouse receipt or any other documents of title relating thereto are not transferable;';
(iv) after clause (e), the following clause shall be inserted, namely:—
'(ea) "ready delivery contract" means a contract which provides for the delivery of goods and the payment of a price therefor, either immediately, or within such period not exceeding eleven days after the date of the contract and subject to such conditions as the Central Government may, by notification in the Official Gazette, specify in respect of any goods, the period under such contract not being capable of extension by the mutual consent of the parties thereto or otherwise:
Provided that where any such contract is performed either wholly or in part;
(I) by realisation of any sum of money being the difference between the contract rate and the settlement rate or clearing rate or the rate of any offsetting contract; or
(II) by any other means whatsoever, and as a result of which the actual tendering of the goods covered by the contract or payment of the full price therefor is dispensed with, then such contract shall not be deemed to be a ready delivery contract;';
(v) after clause (h), the following clause shall be inserted, namely:—
'(ha) "specific delivery contract" means a commodity derivative which provides for the actual delivery of specific qualities or types of goods during a specified future period at a price fixed thereby or to be fixed in the manner thereby agreed and in which the names of both the buyer and the seller are mentioned;';
(vi) after clause (j), the following clause shall be inserted, namely:—
'(k) "transferable specific delivery contract" means a specific delivery contract which is not a non-transferable specific delivery contract and which is subject to such conditions relating to its transferability as the Central Government may by notification in the Official Gazette, specify in this behalf.'.
Section 133, The Finance Act, 2015 (Act 20 of 2015).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

s. 2 Income-tax

Questions about Section 133

What does Section 133 of the Finance Act deal with?

Section 133 of the Finance Act is headed "Commencement and amendment of Act 42 of 1956". PART II AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION ) A CT, 1956 Commencement and amendment of Act 42 of 1956 133.

How do I find court cases under Section 133 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2015 133, section 133 Finance Act 2015, section 133 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 133 of the Finance Act, and has it changed?

Its own text turns on section 2 (Income-tax), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2015 as Act 20 of 2015. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

First Schedule. First Schedule8029 words
Fifth Schedule. Fifth Schedule4392 words
2. Income-tax3525 words
94. Substitution of new section for section 11AC1125 words
6. Insertion of new section 9A1095 words
5. Amendment of section 91039 words

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.

"(C)		commodity derivatives; and
(D)		such other instruments as may be declared by the Central Government to be derivatives;";

'(bb)		"goods" mean every kind of movable property other than actionable claims, money and securities;
(bc)		"commodity derivative" means a contract -

(i)		for the delivery of such goods, as may be notified by the Central Government in the Official Gazette, and which is not a ready delivery contract; or
(ii)		for differences, which derives its value from prices or indices of prices of such underlying goods or activities, services, rights, interests and events, as may be notified by the Central Government, in consultation with the Board, but does not include securities as referred to in sub-clauses (A) and (B) of clause (ac);';

'(ea)		"ready delivery contract" means a contract which provides for the delivery of goods and the payment of a price therefor, either immediately, or within such period not exceeding eleven days after the date of the contract and subject to such conditions as the Central Government may, by notification in the Official Gazette, specify in respect of any goods, the period under such contract not being capable of extension by the mutual consent of the parties thereto or otherwise:
		Provided that where any such contract is performed either wholly or in part;

(I)		by realisation of any sum of money being the difference between the contract rate and the settlement rate or clearing rate or the rate of any offsetting contract; or
(II)		by any other means whatsoever, and as a result of which the actual tendering of the goods covered by the contract or payment of the full price therefor is dispensed with, then such contract shall not be deemed to be a ready delivery contract;';