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.1952
List of Chapters & Sections
All sections
1Short title, extent and commencement2Definitions3Establishment and constitution of the Forward Markets Commission4Functions of the Commission4APowers of the Commission5Application for recognition of associations6Grant of recognition to association7Withdrawal of recognition8Power of Central Government to call for periodical returns or direct inquiries to be made9Furnishing of annual reports to the Central Government by recognised associations9APower of recognised association to make rules respecting grouping of members, restricting voting rights, etc., in special cases10Power of Central Government to direct rules to be made or to make rules11Power of recognised association to make bye-laws12Power of Central Government to make or amend bye-laws of recognised associations12AApplication of amendment of bye-laws to existing forward contracts12BPower of Commission to suspend member of recognised association or to prohibit him from trading13Power of Central Government to supersede governing body of recognised association14Power to suspend business of recognised association14ACertificate of registration to be obtained by all associations14BGrant or refusal of certificate of registration14CApplication of sections 8 and 12B to registered associations15Forward contracts in notified goods illegal or void in certain circumstances16Consequences of notification under section 1517Power to prohibit forward contracts in certain cases18Special provisions respecting certain kinds of forward contracts19Prohibition of options in goods20Penalties21Penalty for owning or keeping place used for entering into forward contracts in goods21APower of court to order forfeiture of property22Offences by companies22APower to search and seize books of account or other documents22BPresumptions to be drawn in certain cases23Certain offences to be cognizable24Jurisdiction to try offences under this Act25Advisory committee26Power to delegate27Power to exempt27AProtection of action taken in good faith28Power to make rules28ASavings of recognised associations29Repeals and savings29ARepeal and savings29BTransfer and vesting of undertaking of Commission