recommended by the standing committee and agreed to by the government are different from the provisions in the securities contracts (regulation) amendment bill, 2005, it is proposed to withdraw the said bill and to move a revised bill, viz, the securities contracts (regulation) amendment bill, 2006 to amend the securities contracts (regulation) act, 1956 so as to provide, inter alia, to— (i) include securitisation certificates or instruments under the definition of "securities" and to insert for the said purpose, a new sub-clause (ie) in clause (h) of section 2 of the securities contracts (regulation) act, 1956; (ii) provide for disclosure based, regulation for issue of the securitised certificates or instruments and procedure therefor and to insert for the said purpose, a new section 17a in the securities contracts (regulation) act, 1956 and make consequential amendments in section 31 to provide regulation making powers to sebi 7 the bill seeks to achieve the above objectives new det; p chidambaram the 7th december, 2006 memorandum regarding delegated legislationclause 5 of the bill proposes to amend section 31 of the securities contracts (regulation) act, 1956 so as to confer power upon the securities and exchange board of india to make regulations on matters such as the eligibility criteria and other requirments to be complied with by the issuers of securitised certificates or instruments 2 the regulations made by the securities and exchange board of india shall be laid, as soon as may be, after they are made, before each house of parliament 3 the matters in respect of which regulations may be made are generally matters of procedure and administrative details and it is not practicable to provide for them in the bill itself the delegation of legislative power is, therefore, of a normal character annexure extracts from the securities contracts (regulation) act, 1956 (42 of 1956)     definitions 2 in this act, unless the context otherwise requires,—      (h) "securities" inclide—      penalties 23 (1) any person who—    = « (c) contravenes the provisions contained in section 17, or section 19; or      31(7)     (2) in particular, and without prejudice to the generality of the foregoing power, such power of securities and exchange board of india regulations may provide for the manner in which at least fifty-one per cent of equity share capital of a recognised stock exchange is held within twelve months from the date of publito make regulations cation of the order under sub-section (7) of section 4b by the public other than the shareholders having trading rights under sub-section (8) of that section a billfurther to amend the securities contracts (regulation) act, 1956 (shri p chidambaram, minister of finance) 