Section 7
Withdrawal of recognition.
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.
If the Central Government is of opinion that any recognition
granted to an association under the provisions of this Act should, in the interest of the trade or in the
public interest, be withdrawn, the Central Government may, after giving a reasonable opportunity to the
association to be heard in the matter withdraw, by notification in the Official Gazette, the recognition
granted to the said association:
Provided that no such withdrawal shall affect the validity of any contract entered into or made before the date of the notification, and the Central Government may make such provision as it deems fit in the notification of withdrawal or in any subsequent notification similarly published for the due performance of any contracts outstanding on that date.
Provided that no such withdrawal shall affect the validity of any contract entered into or made before the date of the notification, and the Central Government may make such provision as it deems fit in the notification of withdrawal or in any subsequent notification similarly published for the due performance of any contracts outstanding on that date.