What's The Defination Of Securities Under SCRA?


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Sana Rashid answered
Here is the exact definition if you are talking about the SCRA 1956:
(h) "securities" include -

(I) shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate;

(ii) Government securities;

(iia) such other instruments as may be declared by the Central Government to be securities;

(iii) rights or interests in securities;

(I) "spot delivery contract" means a contract which provides for, -

(a) actual delivery of securities and the payment of a price therefore either on the same day as the date of the contract or on the next day, the actual period taken for the dispatch of the securities or the remittance of money therefore through the post being excluded from the computation of the period aforesaid if the parties to the contract do not reside in the same town or locality;

(b) transfer of the securities by the depository from the account of a beneficial owner to the account of another beneficial owner when such securities are dealt with by a depository;

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