The Indian Stamp (Delhi Amendment) Act, 2010

1. Short title, extent and commencement. (1) This Act may be called the Indian Stamp (Delhi Amendment) Act, 2010 (2) It extends to the whole of the National Capital Territory of Delhi. (3) It shall come into force on such date as the Lieutenant Governor of the National Capital Territory of Delhi may, by notification in the Delhi Gazette, appoint.

2. Amendment of section 2. In the Indian Stamp Act, 1899 (2 of 1899) (hereinafter referred to as “the principal Act”), in section 2- (i) clause (1) shall be re-numbered as clause (1A) and before the clause (1A) as so re-numbered, the following clause shall be inserted, namely:- “(1) “association” means any association of persons, exchange brokers, or any other organization or body of persons, whether incorporated or not, and regulating or controlling or conducting business of the sale or purchase of, or other transaction relating to, any goods or marketable securities;”; (ii) in clause (12), the following Explanation shall be added at the end, namely:- “Explanation. - The terms “signed” and “signature” also included attribution of electronic record as per section 11 of the Information Technology Act, 2000 (21 of 2000);”; (iii) in clause (14), the following Explanation shall be added at the end, namely:- “Explanation.- The terms “document” also includes any electronic record as defined in clause (t) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000);”; and (iv) after clause (26), the following clause shall be inserted, namely:- “(27) “stock exchange” means any body of individuals, whether incorporated or not, constituted for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities.”.

3. Amendment of section 73. In the principal Act, in section 73 after the expression “public officer” and before the expression “any registers, books,”, the expression “or association or stock exchange referred to in clause (1) and clause (27) respectively of section 2 having custody of” shall be inserted.

4. Amendment of Schedule 1A. In the principal Act, in Schedule 1A, after Article 54, and before Article 55 the following Article shall be added, namely:- “54A. Record of Transaction (Electronics or Otherwise) effected by a trading member through the association or stock exchange referred to in clause (1) and clause (27) respectively of section 2 - (a) If relating to sale and purchase of Government securities, Fifty rupees for every rupees one crore or part thereof of the value of security, (b) If relating to purchase or sale of securities, other than those falling under item (a) above - (i) In case of delivery, One rupee for every rupees 10,000 or part thereof, (ii) In case of non-delivery, Twenty paise for every rupees 10,000 or part thereof, (c) If relating to futures and options trading, Twenty paise for every rupees 10,000 or part thereof, (d) If relating to forward contracts of commodities traded through an association or otherwise. One rupee for every rupees 1,00,000 or part thereof.” Explanation I. - Any duty paid under this Article shall be adjusted towards the duty chargeable, if any, under Article 5, 19, 36, 43 or 59, as the case may be. Explanation II. – For the purpose of clause (b), securities shall have the same meaning as defined by the Securities Contracts (Regulation) Act, 1956 (42 of 1956). Explanation III – Notwithstanding anything contained in this Act or any other law for the time being in force, securities dealt in depository shall not be liable to stamp duty as exempted vide clause (c) of section 8 A of the Indian Stamp Act, 1899.”