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    Legal Reforms Abhi

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    Abhi Shekhar Singh
    The document outlines several legislative changes to financial regulations in India between 2006 and 2007. Key changes included the Government Securities Act replacing earlier debt acts in 2006, introducing more investor-friendly facilities for government securities. The Payment and Settlement Systems Act was passed in 2007. Amendments were also made to allow the RBI to transfer shares of SBI to the central government, and bills were introduced regarding microfinance and securities regulations.

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    Legal Reforms Abhi

    Uploaded by

    Abhi Shekhar Singh
    7 views8 pages
    The document outlines several legislative changes to financial regulations in India between 2006 and 2007. Key changes included the Government Securities Act replacing earlier debt acts in 2006, introducing more investor-friendly facilities for government securities. The Payment and Settlement Systems Act was passed in 2007. Amendments were also made to allow the RBI to transfer shares of SBI to the central government, and bills were introduced regarding microfinance and securities regulations.

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    The document outlines several legislative changes to financial regulations in India between 2006 and 2007. Key changes included the Government Securities Act replacing earlier debt acts in 2006, introducing more investor-friendly facilities for government securities. The Payment and Settlement Systems Act was passed in 2007. Amendments were also made to allow the RBI to transfer shares of SBI to the central government, and bills were introduced regarding microfinance and securities regulations.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    7 views8 pages

    Legal Reforms Abhi

    Uploaded by

    Abhi Shekhar Singh
    The document outlines several legislative changes to financial regulations in India between 2006 and 2007. Key changes included the Government Securities Act replacing earlier debt acts in 2006, introducing more investor-friendly facilities for government securities. The Payment and Settlement Systems Act was passed in 2007. Amendments were also made to allow the RBI to transfer shares of SBI to the central government, and bills were introduced regarding microfinance and securities regulations.

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    Download as PPTX, PDF, TXT or read online from Scribd
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    LEGISLATIVE CHANGES

    UNDER LEGAL REFORMS….


    1. The Government Securities Act ,2006
    replaced the Public debt Act ,1944 and
    repealed the Indian Securities Act ,1920
    in August 2006.
    MAIN FEATURES OF GOVT.
    SECURITIES REGULATIONS..
     Investor friendly automatic redemption facility.
     Facility of pledge or hypothecation or lien of
    Government security.
     nomination facility for Government securities
    held in the form of stock certificate and BLAs
    (bond ledger account).
     Simplified procedure for issue of duplicate
    Government securities.
     simplified procedure for making vesting order.
     Debarring holders of SGL(Subsidiary general
    ledger) account from trading in case of misuse
    of SGL account.
    2. Payment and Settlement Systems
    Act, 2007 received the assent of the
    President on December 20, 2007
    3. To enable the RBI to transfer its
    shareholding in SBI in favour of the
    Central Government, certain
    amendments were effected in SBI Act.
    1955, through SBI ordinance 2007.
    4. The Micro Financial Sector
    (Development and Regulations) Bill,
    2007
    The Securities Contracts (Regulation)
    Amendment Act, 2007
    The State Bank of India (Subsidiary
    Banks Laws) Amendment Act, 2007
    THANK
    YOU..

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