law: Securities Contracts (Regulation) Act, 1956
  28.Act not to apply in
  
  certain cases.-
  The provisions of this
  
  Act shall not apply to the Government in Reserve Bank of India, any local
  
  authority or any corporation set up under a special law or any person who has
  
  effected any transaction with or through the agency of any such authority as is
  
  referred to in this section.