Lawgist14Contracts in notified areas to be void in certain circumstances
(1) Any contract entered into in any State or area specified in the notification under section 13 which is in contravention of any of the bye-laws specified in that behalf under clause (a) of sub-section (3) of section 9 shall be void--
(i) as respects the rights of any member of the recognised stock exchange who has entered into such contract in contravention of any such bye-law, and also
(ii) as respects the rights of any other person who has knowingly participated in the transaction entailing such contravention.
(2) Nothing in sub-section (1) shall be construed to affect the right of any person other than a member of the recognised stock exchange to enforce any such contract or to recover any sum under or in respect of such contract if such person had no knowledge that the transaction was in contravention of any of the bye-laws specified in clause (a) of sub-section (3) of section 9.
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- 13 Contracts in notified areas illegal in certain circumstances
- 13A Additional trading floor
- 14 Contracts in notified areas to be void in certain circumstances
- 15 Members may not act as principals in certain circumstances
- 16 Power to prohibit contracts in certain cases
- 17 Licensing of dealers in securities in certain areas
- 17A Public issue and listing of securities referred to in sub-clause (ie) of clause (h) of section 2
- 18 Exclusion of spot delivery contracts from sections 13, 14, 15 and 17
- 18A Contracts in derivatives
- 19 Stock exchanges other than recognised stock exchanges prohibited
- 20 [Omitted.]
