The Forward Contracts (Regulation) Act

An Act to provide for the regulation of certain matters relating to forward contracts, the prohibition of options in goods and for matters connected therewith.
List of Chapters & Sections
  1. All sections

  2. 1
     Short title, extent and commencement
  3. 2
  4. 3
     Establishment and constitution of the Forward Markets Commission
  5. 4
     Functions of the Commission
  6. 4A
     Powers of the Commission
  7. 5
     Application for recognition of associations
  8. 6
     Grant of recognition to association
  9. 7
     Withdrawal of recognition
  10. 8
     Power of Central Government to call for periodical returns or direct inquiries to be made
  11. 9
     Furnishing of annual reports to the Central Government by recognised associations
  12. 9A
     Power of recognised association to make rules respecting grouping of members, restricting voting rights, etc., in special cases
  13. 10
     Power of Central Government to direct rules to be made or to make rules
  14. 11
     Power of recognised association to make bye-laws
  15. 12
     Power of Central Government to make or amend bye-laws of recognised associations
  16. 12A
     Application of amendment of bye-laws to existing forward contracts
  17. 12B
     Power of Commission to suspend member of recognised association or to prohibit him from trading
  18. 13
     Power of Central Government to supersede governing body of recognised association
  19. 14
     Power to suspend business of recognised association
  20. 14A
     Certificate of registration to be obtained by all associations
  21. 14B
     Grant or refusal of certificate of registration
  22. 14C
     Application of sections 8 and 12B to registered associations
  23. 15
     Forward contracts in notified goods illegal or void in certain circumstances
  24. 16
     Consequences of notification under section 15
  25. 17
     Power to prohibit forward contracts in certain cases
  26. 18
     Special provisions respecting certain kinds of forward contracts
  27. 19
     Prohibition of options in goods
  28. 20
  29. 21
     Penalty for owning or keeping place used for entering into forward contracts in goods
  30. 21A
     Power of court to order forfeiture of property
  31. 22
     Offences by companies
  32. 22A
     Power to search and seize books of account or other documents
  33. 22B
     Presumptions to be drawn in certain cases
  34. 23
     Certain offences to be cognizable
  35. 24
     Jurisdiction to try offences under this Act
  36. 25
     Advisory committee
  37. 26
     Power to delegate
  38. 27
     Power to exempt
  39. 27A
     Protection of action taken in good faith
  40. 28
     Power to make rules
  41. 28A
     Savings of recognised associations
  42. 29
     Repeals and savings
  43. 29A
     Repeal and savings
  44. 29B
     Transfer and vesting of undertaking of Commission