Power of recognised association to make bye-laws.

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..... d without prejudice to the generality of the foregoing power, such bye-laws may provide for- (a) the opening and closing of markets and the regulation of the hours of trade; (b) a clearing house for the periodical settlement of contracts and differences thereunder, the delivery of, and payment for goods, the passing on of delivery orders and for the regulation and maintenance of such clearing hous .....

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..... consequences of default or insolvency on the part of a seller or buyer or intermediary, the consequences of a breach or omission by a seller or buyer and the responsibility of commission agents and brokers who are not parties to such contracts; (h) the admission and prohibition of specified classes or types of goods or of dealings in goods by a member of the recognised association; (i) the method .....

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..... such books relating to their business as the governing body may require. (3) The bye-laws made under this section may- (a) specify the bye-laws the contravention of any of which shall make a contract entered into otherwise than in accordance with the bye-laws void under sub-section (2) of section 15; 1 [(aa) specify the bye-laws the contravention of any of which shall make a forward contract enter .....

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