The FORWARD CONTRACTS (REGULATION) ACT, 1952

PPRELIMINARY

Section 1 — Short title, extent and commencement.

(1) This Act may he called The Forward Contracts (Regulation) Act, 19521.

(2) It extends to the whole of India; [Omitted]

(3) Chapter I shall come into force at once, and the remaining provisions shall come into force on such date 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.

Browse all 43 sections
  1. 1.Short title, extent and commencement.
  2. 2.Definitions.
  3. 3.Establishment and constitution of the Forward Markets Commission.
  4. 4.Functions of the Commission.
  5. 4A.Powers of the Commission.
  6. 5.Application for recognition of associations.
  7. 6.Grant of recognition to association.
  8. 7.Withdrawal of recognition.
  9. 8.Power of Central Government to call for periodical returns or direct inquiries to be made.
  10. 9.Furnishing of annual reports to the Central Government by recognised associations.
  11. 9A.Power of recognised association to make rules respecting grouping of members, restricting voting rights, etc., in special cases.
  12. 10.Power of Central Government to direct rules to be made or to make rules.
  13. 11.Power of recognised association to make bye-laws.
  14. 12.Power of Central Government to make or amend bye-laws of recognised associations.
  15. 12A.Application of amendment of bye-laws to existing forward contracts.
  16. 12B.Power of Commission to suspend member of recognised association or to prohibit him from trading.
  17. 13.Power of Central Government to supersede governing body of recognised association.
  18. 14.Power to suspend business of recognised association.
  19. 14A.Certificate of registration to be obtained by all associations.
  20. 14B.Grant or refusal of certificate of registration.
  21. 14C.Application of sections 8 and 12B to registered associations.
  22. 15.Forward contracts in notified goods illegal or void in certain circumstances.
  23. 16.Consequences of notification under section 15.
  24. 17.Power to prohibit forward contracts in certain cases.
  25. 18.Special provisions respecting certain kinds of forward contracts.
  26. 19.Prohibition of options in goods.
  27. 20.Penalties.
  28. 21.Penalty for owning or keeping place used for entering into forward contracts in goods.
  29. 21A.Power of court to order forfeiture of property.
  30. 22.Offences by companies.
  31. 22A.Power to search and seize books of account or other documents.
  32. 22B.Presumptions to be drawn in certain cases.
  33. 23.Certain offences to be cognizable.
  34. 24.Jurisdiction to try offences under this Act.
  35. 25.Advisory committee.
  36. 26.Power to delegate.
  37. 27.Power to exempt.
  38. 27A.Protection of action taken in good faith .
  39. 28.Power to make rules.
  40. 28A.Savings of recognised associations.
  41. 29.Repeals and savings.
  42. 29A.Repeal and savings.
  43. 29B.Transfer and vesting of undertaking of Commission.