2. Definitions .-In this Act, unless the context otherwise requires, -
(a)“Contract ”means a contract for or relating to the purchase or sale of securities;
3[(aa) “corporatisation ” means the succession of a recognised stock exchange, being a body of
individuals or a society registered under the Societies Registration Act, 1860 (21 of 1860), by another
stock exchange, being a company incorporated for the purpose of assisting, regulating or controlling
the business of buying, selling or dealing in securities carri ed on by such individuals or society;
(ab) “demutualisation ” means the segregation of ownership and management from the trading
rights of the members of a recognised stock exchange in accordance with a scheme approved by the
Securities and Exchange Board o f India;]
4[5[(ac)] “derivative ” includes - (A)a security derived from a debt instrument, share, loan, whether secured or unsecured, risk
instrument or contract for differences or any other form of security; (B)a contact which derives its value from the prices, or index of prices, of underlying
securities ;]
6[(C) commodity derivatives; and (D)such other instruments as may be declared by the Central Government to be derivatives;] (b)“Government security ” means a security created and issued, whether before or after the
commencement of this Act, by the Central Government or a State Government for the purpose of
raising a public loan and having one of the forms specified in clause ( 2) of section 2 of the Pub lic
Debt Act, 1944 (13 of 1944);
6[(bb) “goods” mean every kind of movable property other than actionable claims, money and
securities;
(bc) “commodity derivative” means a contract - (i)for the delivery of such goods, as may be notified by the Central Gove rnment in the
Official Gazette, and which is not a ready delivery contract; or