# The Finance Act, 2021, Section 148: Amendment of section 2

- Act: The Finance Act, 2021
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2021/section/148/

## 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;".

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