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      Question

      As per SC(R ) Act, contracts in derivative shall be

      legal and valid if such contracts are
      A traded on a recognised stock exchange Correct Answer Incorrect Answer
      B settled on the clearing house of the recognised stock exchange Correct Answer Incorrect Answer
      C traded and settled as per the rules of SEBI Correct Answer Incorrect Answer
      D Both a and b Correct Answer Incorrect Answer
      E Neither a nor b Correct Answer Incorrect Answer

      Solution

      Section 18A - Contracts in derivative - Notwithstanding anything contained in any other law for the time being in force, contracts in derivative shall be legal and valid if such contracts are— (a) traded on a recognised stock exchange; (b) settled on the clearing house of the recognised stock exchange, in accordance with the rules and bye-laws of such stock exchange.

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