Act 74 of 1952

The Forward Contracts (Regulation) Act, 1952

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.

  • Ministry of Finance
  • Department of Economic Affairs
  • Enacted 1952-12-26
  • 43 sections
SectionTitle
1 Short title, extent and commencement. Read
2 Definitions. Read
3 Establishment and constitution of the Forward Markets Commission. Read
4 Functions of the Commission. Read
4A Powers of the Commission. Read
5 Application for recognition of associations. Read
6 Grant of recognition to association. Read
7 Withdrawal of recognition. Read
8 Power of Central Government to call for periodical returns or direct inquiries to be made. Read
9 Furnishing of annual reports to the Central Government by recognised associations. Read
9A Power of recognised association to make rules respecting grouping of members, restricting voting rights, etc., in special cases. Read
10 Power of Central Government to direct rules to be made or to make rules. Read
11 Power of recognised association to make bye-laws. Read
12 Power of Central Government to make or amend bye-laws of recognised associations. Read
12A Application of amendment of bye-laws to existing forward contracts. Read
12B Power of Commission to suspend member of recognised association or to prohibit him from trading. Read
13 Power of Central Government to supersede governing body of recognised association. Read
14 Power to suspend business of recognised association. Read
14A Certificate of registration to be obtained by all associations. Read
14B Grant or refusal of certificate of registration. Read
14C Application of sections 8 and 12B to registered associations. Read
15 Forward contracts in notified goods illegal or void in certain circumstances. Read
16 Consequences of notification under section 15. Read
17 Power to prohibit forward contracts in certain cases. Read
18 Special provisions respecting certain kinds of forward contracts. Read
19 Prohibition of options in goods. Read
20 Penalties. Read
21 Penalty for owning or keeping place used for entering into forward contracts in goods. Read
21A Power of court to order forfeiture of property. Read
22 Offences by companies. Read
22A Power to search and seize books of account or other documents. Read
22B Presumptions to be drawn in certain cases. Read
23 Certain offences to be cognizable. Read
24 Jurisdiction to try offences under this Act. Read
25 Advisory committee. Read
26 Power to delegate. Read
27 Power to exempt. Read
27A Protection of action taken in good faith . Read
28 Power to make rules. Read
28A Savings of recognised associations. Read
29 Repeals and savings. Read
29A Repeal and savings. Read
29B Transfer and vesting of undertaking of Commission. Read
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