1[8B. Corporatisation and demutualisation schemes and related instruments not liable to duty---Notwithstanding anything contained in this Act or any other law for the time being in force,--
(a) a scheme for corporatisation or demutualisation, or both of a recognised stock exchange; or
(b) any instrument, including an instrument of, or relating to, transfer of any property, business, asset whether movable or immovable, contract, right, liability and obligation, for the purpose of, or in connection with, the corporatisation or demutualisation, or both of a recognised stock exchange pursuant to a scheme,
as approved by the Securities and Exchange Board of India under sub-section (2) of section 4B of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), shall not be liable to duty under this Act or any other law for the time being in force.
Explanation.-- For the purposes of this section,--
(a) the expressions "corporatisation", "demutualisation" and "scheme" shall have the meanings respectively assigned to them in clauses (aa), (ab) and (ga) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);
(b) "Securities and Exchange Board of India" means the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992).]
(a) a scheme for corporatisation or demutualisation, or both of a recognised stock exchange; or
(b) any instrument, including an instrument of, or relating to, transfer of any property, business, asset whether movable or immovable, contract, right, liability and obligation, for the purpose of, or in connection with, the corporatisation or demutualisation, or both of a recognised stock exchange pursuant to a scheme,
as approved by the Securities and Exchange Board of India under sub-section (2) of section 4B of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), shall not be liable to duty under this Act or any other law for the time being in force.
Explanation.-- For the purposes of this section,--
(a) the expressions "corporatisation", "demutualisation" and "scheme" shall have the meanings respectively assigned to them in clauses (aa), (ab) and (ga) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);
(b) "Securities and Exchange Board of India" means the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992).]
Source footnotes
1. Ins. by Act 18 of 2005, s.114 (w.e.f. 13-5-2005).आगे पढ़ें / Continue reading
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Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Instruments chargeable with duty.Section 3A · [Repealed.].Section 4 · Several instruments used in single transaction of sale, mortgage or settlement.Section 5 · Instruments relating to several distinct matters.Section 6 · Instruments coming within several descriptions in Schedule I.Section 7 · Policies of sea-insurance.India Code, Government of India. Text fetched 10 Oct 2026. Source metadata reports last modification: 2019-11-29. Check the linked official text and subsequent notifications when applying a provision.