law: Securities Contracts (Regulation) Act, 1956
  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;
  (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 Public Debt Act, 1944 (13 of 1944);
  (c) 'member ' means a
  
  member of a recognised stock exchange;
  (d) 'option in
  
  securities' means a contract for the purchase or sale of a right to buy or
  
  sell, or a right to buy and sell, securities in future, and includes a teji, a
  
  mandi, a teji mandi, a galli, a put, a call or a put and call in securities;
  (e) 'prescribed' means
  
  prescribed by rules made under this Act;
  (f) 'recognised stock
  
  exchange' means a stock exchange which is for the time being recognised by the
  
  Central Government under section 4;
  (g) 'rules', with
  
  reference to the rules relating in general to the constitution and management
  
  of a stock exchange, includes, in the case of a stock exchange which is an
  
  incorporated association, its memorandum and articles of association;
  (h) 'securities'
  
  include-
  (i)
  
  shares, scripts stocks, bonds, debentures, debenture stock or other marketable
  
  securities of a like nature in or of any incorporated company or other body
  
  corporate;
  (ii)
  
  Government securities; and
  (iii)
  
  rights or interests in securities;
  (i) 'spot delivery
  
  contract' means a contract which provides for the actual delivery of securities
  
  and the payment of a price therefor either on the same day as the date of the
  
  contract or on the next day, the actual period taken for the despatch of the
  
  securities or the remittance of money therefor through the post being excluded
  
  from the computation of the period aforesaid if the parties to the contract do
  
  not reside in the same town or locality;
  (j) '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.