New Delhi: A Bill to give effect to the policy of corporatisation and demutualisation of stock exchanges is in the pipeline, Finance Minister Jaswant Singh informed the Rajya Sabha on July 29.

"The government proposes to introduce a Bill to amend the Securities Contracts (regulation) Act, 1956," he said during Question Hour.

Responding to supplementaries relating to measures for capital market reforms, he said the 'strategic action plan 2003-04' focuses on structural, systemic and operational issues of the capital market reforms in the country.

The basic thrust of the measures is to enhance the level of investor protection, transparency, integrity and further development of the market, he said.

To another query regarding market manipulation by a pharmaceutical firm, Lupin, Singh said the Securities and Exchange Board of India (SEBI) was carrying out an investigation into the charges and assured the House that action would be taken on the basis of the findings.

When an RJD (Rashtriya Janata Dal) member sought half-an-hour discussion on issues pertaining capital market reforms, Chairman Bhairon Singh Shekhawat asked him to give it in writing.

PTI