Section 1
Short title, extent and commencement.
The Forward Contracts (Regulation) Act, 1952
About this 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.
(1) This Act may he called The Forward Contracts
(Regulation) Act, 19521.
(2) It extends to the whole of India; 2***
(3) Chapter I shall come into force at once, and the remaining provisions shall come into force on such date3 or dates as the Central Government may, by notification in the Official Gazette, appoint, and different dates may he appointed for different provisions of this Act, for different States or areas, and for different goods or classes of good.
(2) It extends to the whole of India; 2***
(3) Chapter I shall come into force at once, and the remaining provisions shall come into force on such date3 or dates as the Central Government may, by notification in the Official Gazette, appoint, and different dates may he appointed for different provisions of this Act, for different States or areas, and for different goods or classes of good.
Notes
1. This Act has been extended to:--
(i) Pondicherry (with modification), vide notification No. S.O. 3865, dated 29-12-1962, see Gazette of India, Part II, sec. 3(ii).
(ii) Dadra and Nagar Haveli by Reg. 6 of 1963, s. 2 and First Schedule: and
(iii) Goa, Daman and Diu (with modification), vide notification No. G.S.R. 962, dated 24-6-1967, see Gazette of India, Part II, sec. 3(i).
2. The words "except the State of Jammu and Kashmir" omitted by Act 62 of 1960, s. 2 (w.e.f. 28-12-1960).
3. Chapters II and VI were brought into force in the whole of India except the State of Jammu and Kashmir on the 24th August, 1953, vide notification No. S. R.O. 1618, dated the 24th August, 1953; see Gazette of India, Part II, sec. 3.
Provisions of this Act except Chapter I came into force in the State of Jammu and Kashmir on the 22nd September, 1962, vide notification No. S.O. 2895, dated the 15th September, 1962, see Gazette of India, Part II, sec. 3(ii).
(i) Pondicherry (with modification), vide notification No. S.O. 3865, dated 29-12-1962, see Gazette of India, Part II, sec. 3(ii).
(ii) Dadra and Nagar Haveli by Reg. 6 of 1963, s. 2 and First Schedule: and
(iii) Goa, Daman and Diu (with modification), vide notification No. G.S.R. 962, dated 24-6-1967, see Gazette of India, Part II, sec. 3(i).
2. The words "except the State of Jammu and Kashmir" omitted by Act 62 of 1960, s. 2 (w.e.f. 28-12-1960).
3. Chapters II and VI were brought into force in the whole of India except the State of Jammu and Kashmir on the 24th August, 1953, vide notification No. S. R.O. 1618, dated the 24th August, 1953; see Gazette of India, Part II, sec. 3.
Provisions of this Act except Chapter I came into force in the State of Jammu and Kashmir on the 22nd September, 1962, vide notification No. S.O. 2895, dated the 15th September, 1962, see Gazette of India, Part II, sec. 3(ii).