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Indian Laws

Home Acts & Rules Indian Laws Old-Provisions Forward Contracts (Regulation) Act, 1952 Chapters List This

Forward Contracts (Regulation) Act, 1952

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

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