Section 4 - Functions of the Commission - Forward Contracts (Regulation) Act, 1952

4. Functions of the Commission.- The functions of the Commission shall be (a) to advise the Central Government in respect of the recognition of or the withdrawal of recognition from any association or in respect of any other matter arising out of the administration of this Act; 1 [ (b) to keep forward markets under observation and to take such action in relation to them as it may consider necessary, in exercise of the powers assigned to it by or under this Act;] (c) to collect and whenever the commission thinks it necessary publish information regarding the trading conditions in respect of goods to which any of the provisions of this Act is made applicable, including information regarding supply, demand and prices, and to submit to the central Government periodical reports on the operation of this Act and on the working of forward markets relating to such goods; (d) to make recommendations generally with a view to improving the organisation and working of forward markets; (e) to undertake the inspection of the accounts and other documents of 2 [any recognised association or registered association or any member of such association] whenever it considers it necessary; and (f) to perform such other duties and exercise such other powers as may be assigned to the Commission by or under this Act, or as may be prescribed. Many of the regulator functions/powers of the central Government have been delegate to the Commission in the year 1960, for eg. Sections 6 (2) (a),6 (3), 8(1), 8(2) (a) and (b), 10(1), 12(1) and 14(c). ********** 1 Substituted by Act 62 of 1960, Section 5 (w.e.f. 28.12.1960). 2 Substituted by Act 62 of 1960, Section 5 (w.e.f. 28.12.1960).